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Max Weber's concept of Verstehen refers to deep understanding.
Opportunity Cost
The amount of income forgone from an alternative to a proposed use of cash or its equivalent.
Differential Revenue
The difference in revenue between two alternative decisions or courses of action.
Course of Action
A plan or strategy that an organization or individual intends to follow to achieve a specific goal.
Alternative
An option or choice that serves as a substitute to a decision or course of action.
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