Examlex
According to the behaviourist John Watson,how should parents respond to their child?
Utility Function
A mathematical representation of how consumers rank different bundles of goods according to the level of satisfaction or utility those bundles provide.
Risk Averse
describes a preference for avoiding risk, where individuals opt for the option with the least uncertainty in outcomes or potential losses.
Subjective Measure
A type of data collection or evaluation based on personal opinions, interpretations, points of view, emotions, and judgment.
Present Value
The present value is the current worth of a future sum of money or stream of cash flows given a specified rate of return.
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