Examlex
How is a strong entity different from a weak entity?
Budget Constraint
Refers to the limitations on the consumption choices of individuals based on their income and the prices of goods and services.
Choice Set
A set of all possible options available to a consumer from which he or she can make a selection.
Area
In a geographical or economic context, can refer to a specified region or domain under consideration for its characteristics or resources.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision.
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