Examlex
In the past, communication skills were less important because of clearly specified roles.
Utility Function
An economic tool that measures the preference level of consumers for different combinations of goods and services.
Private Consumptions
Private consumption refers to the spending on goods and services by individuals and households in an economy, excluding government expenditure.
Private Consumptions
The spending by households on goods and services, excluding purchases of new housing but including healthcare, education, and entertainment.
Majority Vote
A decision-making rule where the option that receives more than half of the votes is chosen.
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