Examlex
In a laissez-faire system, the price mechanism dictates the production planning decisions.
Preferred Alternative
The most favorable option or choice among a set of possibilities, especially in the context of decision making or policy formulation.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision.
Playing Golf
An outdoor game in which players use clubs to hit a small ball into a series of holes on a course in as few strokes as possible.
Sunny Days
Days characterized by sunshine, with minimal to no cloud cover, often associated with good weather.
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