Examlex
The condition that results when each state's increase in military capability is matched by the others, resulting in no significant gain in security for any one state, is known as which of the following?
Exchange
The act of giving one thing and receiving another in return, particularly in reference to goods, services, or currencies.
Transitive Preferences
A concept in decision theory where if a person prefers option A over B and B over C, then the person also prefers A over C.
Transitive Indifference
Transitive indifference refers to a situation in consumer preference theory where if a consumer is indifferent between goods A and B and also between goods B and C, then the consumer is equally indifferent between goods A and C.
Strict Preference
An economic term indicating a consumer's stronger liking for one option over another, with no indifference between the two.
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