| Word | Meaning |
|---|---|
| according to (someone or something) | as stated or indicated by |
| specifically | in distinction from others |
| technical | of or relating to technique or proficiency in a practical skill |
| distinction | a discrimination between things as different and distinct |
| prefix | an affix that is added in front of the word |
| consumer | a person who uses goods or services |
| utility | the quality of being of practical use |
| maximization | the act of raising to the highest possible point or condition or position |
| equilibrium | a stable situation in which forces cancel one another |
| effect | a phenomenon that follows and is caused by some previous phenomenon |
| regulation | the act of bringing to uniformity; making regular |
| externality | the quality or state of being outside or directed toward or relating to the outside or exterior |
| analyze | break down into components or essential features |
| aggregate | a sum total of many heterogenous things taken together |
| consumption | the act of consuming something |
| output | production of a certain amount |
| monetary | relating to or involving money |
| fiscal | involving financial matters |
| explicitly | in an explicit manner |
| figure out | to understand; calculate |
Exercise
Open the exercise to begin the activity. Follow the instructions in the document.