Please Define the Following Key Terms

question 35

Short Answer

Please define the following key terms.
-James Hargreaves' spinning jenny

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Definitions:

Risk Aversion

The tendency to prefer certainty over uncertainty, typically by choosing safer or guaranteed outcomes over riskier ones in decision-making.

Small Business

Any independently owned and operated business that is not dominant in its competitive area and does not employ more than 500 people.

Competitive Area

The space or domain in which businesses compete against each other for market share.