Concepts: Budget Constraint Shifts of the Budget Constraint MRT Preferences (assumptions about Preferences) Utility Function Marginal Utility Law of Diminishing Marginal Utility Indifference Curve MRS Finding the consumer's optimal bundle (Cobb- Douglas; Perfect Complements; Perfect Substitutes) Price Consumption Curve Demand Curve Income Consumption Curve Engel Curve Income/Substitution Effects of a Price Change Indirect Utility Function Expenditure Function Compensating Variation Equivalent Variation Edgeworth Box Pareto Efficiency