Examlex
A formally stated expectation concerning the outcome of an experiment is called:
Inefficiency
A condition where resources are not used in the most economically beneficial way, leading to wasted resources or less-than-optimal outcomes.
Communist Central Planning
An economic system where all major production decisions are made by the government, with an aim of allocating resources according to a comprehensive plan.
Entrepreneurs
Individuals who start and run businesses, taking on financial risks in the hope of profit.
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