Examlex
How is it possible to assess cognitive development in children who are too young to talk?
Marginal Benefit
The incremental benefit or enjoyment a consumer receives by using one more unit of a good or service.
Economic Payoff
The financial return or reward received from an investment or decision, measured in terms of profit or loss.
Equity
Fairness; everyone gets his or her fair share. Since people can disagree about what is “fair,” equity is not as well defined a concept as efficiency.
Rational Decision
The choice made by logically considering all available information, potential costs, and benefits to achieve the optimal outcome.
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