Examlex
Which of the following program was created in response to the tornado outbreak in April 27, 2011?
Edgeworth Box
A diagram used in economics to show the distribution of resources and to find the optimal allocation for two individuals.
Contract Curve
In economics, it refers to the locus of optimal points of allocation of resources between two parties under the constraints of their respective utility functions.
Pareto Optimal
A state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off.
Initial Endowment
The initial quantity of goods, services, assets, or resources that an individual, institution, or economy possesses.
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