Examlex
The t distribution allows the calculation of confidence intervals for means when the actual standard deviation is not known.
Self-Sufficient
The ability of an individual, household, or nation to meet all their needs without external assistance or trade.
Standard of Living
A measure of the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.
Importing
The process of importing products or services from other countries for the purpose of selling them domestically.
High-Opportunity Cost
A situation where choosing one option results in the loss of the potential gain from other alternatives.
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