Examlex
Which of the following storage locations contains the most water?
Apples
A type of fruit that grows on apple trees, known for its sweet taste and the wide variety of types available.
Utility Function
A mathematical representation of how a consumer derives satisfaction or utility from consuming goods and services.
Substitution Effect
The economic principle that as prices rise (or incomes decrease), consumers will replace more expensive items with cheaper substitutes, holding utility constant.
Income
The amount of money received by an individual or household over a certain period, usually from employment or investments.
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