Examlex
A letter of ________ addresses the person designated to receive a formal proposal and briefly presents the major features and benefits of the proposal.
Scarce Resources
Resources that are limited in availability and are not sufficient to satisfy all the various ways a society wants to use them.
Efficient Market
a market hypothesis asserting that asset prices fully reflect all available information, making it impossible to consistently achieve higher returns.
Free Lunch
An expression indicating that it is impossible to get something for nothing, emphasizing that every choice involves a cost, even if it is not immediately apparent.
Opportunity Cost
The cost of foregone alternatives when one option is chosen over another.
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