In dictionaries:
Hicksian demand function
In microeconomics, a consumer's Hicksian demand function or compensated demand function for a good is their quantity demanded as part of the solution to minimizing their expenditure on all goods while delivering a fixed level of utility.
Marshallian demand function
In microeconomics, a consumer's (named after Alfred Marshall) the quantity they demand of a particular good as a function of its price, their income, and the prices of other goods, a more technical exposition of the standard demand function.
Excess demand function
In microeconomics, excess demand, also known as shortage, is a phenomenon where the demand for goods and services exceeds that which the firms can produce.
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