Models That Do Not Involve Risk or Chance Are

question 84

Multiple Choice

Models that do not involve risk or chance are

• A)probabilistic models.
• B)postoptimality models.
• C)deterministic models.
• D)MIS models.

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Definitions:

Administrative Burden

The administrative and regulatory obligations that organizations must follow, often involving substantial paperwork and compliance efforts.

Tax System

The structured method by which governments impose financial charges on citizens, businesses, and property to fund public expenditures.

Efficient Tax System

A tax system designed to collect government revenue with minimal economic distortion and without imposing excessive administration and compliance costs.

Deadweight Losses

Economic inefficiencies that occur when equilibrium in a market is not achieved, often due to government intervention like taxes or subsidies.