Examlex
Under the absolutist system of King Louis XIV of France, the king could overrule his jurists and proclaim law.
Expected Value
A statistical measure that calculates the average outcome of a random variable or process, factoring in all possible values and their probabilities.
Efficient Allocation
The distribution of resources in such a manner that it's impossible to improve anyone's condition without worsening someone else's.
Risk Diversified
The strategy of spreading investments across various assets to reduce exposure to risk in any single area.
Expected Income
The amount of income an individual anticipates or forecasts to receive over a certain period.
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