Examlex
In marketing,a(n) __________ generally includes not only physical goods,but also services and ideas as well.
Utility Maximizer
An economic actor who seeks to get the maximum satisfaction or utility from resources available, under the constraints faced.
Probability
The measure of the likelihood that an event will occur, often expressed as a number between 0 and 1, where 1 indicates certainty.
Premium
A premium refers to the additional amount paid for a product, service, or insurance policy over and above its basic cost.
Risk Reduction
Strategies or actions taken to decrease or mitigate the level of risk.
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