Examlex
The statement, "The probability that a certain sports team will win it's next game is about 60%," is an example of
Chinese Economy
The economy of China, characterized by its large size, rapid growth, and transition from a centrally planned economy to a more market-oriented system.
Rational Choice
Rational choice is a theory in economics that assumes individuals make decisions that provide them with the greatest benefit or satisfaction given the choices available.
Predetermined Goal
A specific objective or target set in advance that guides decision-making and strategy formulation.
Decisions at the Margin
Economical decision-making process involving small changes to existing conditions, analyzing the cost and benefit of incremental adjustments.
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