Examlex
The normal measurement of GDP underestimates the total output in an economy because it excludes
Highly Profitable
Describing a business or activity generating significantly higher than average profits.
Substitute Products
Goods or services that can be used in place of one another, where the increase in price of one leads to an increase in demand for the other.
Total Utility
The total amount of satisfaction derived from the consumption of a single product or a combination of products.
Marginal Utility
The additional satisfaction or benefit obtained from consuming one more unit of a good or service.
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Q268: A macro production possibilities frontier shifts when