complementary - A good or service is an item used in conjunction with another good or service., income effect of a price change - When the price of a good falls, real incomes increase, boosting consumers’ ability to buy more., Utility - the sense of pleasure, or satisfaction, that comes from consumption., consumer equilibrium - The solution to the consumer's problem, which entails decisions about how much the consumer will consume of a number of goods and services, Perfect competition - a type of market where there is an extensive number of buyers and sellers and all of them initiate the buying and selling mechanism and there are no restrictions and there is an absence of direct competition in the market and it is assumed that all the sellers are selling identical or homogenous products., Monopolized market - characterized by barriers to entry, which are restrictions on the entry of new firms into an industry., Economies of Scale - cost advantages reaped by companies when production becomes efficient.,

Economics, terms, 1

tarafından
Yerleştir

Skor Tablosu

Görsel stil

Seçenekler

Şablonu değiştir

Otomatik olarak kaydedilen geri yüklensin mi: ?