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Describe how a tsunami is formed and how it can travel great distances at great speeds.
Subjective Concept
An idea or notion based on personal opinions, interpretations, points of view, emotions, and judgment.
Objective Concept
An idea or notion that is based on factual and observable phenomena, unbiased by personal feelings or interpretations.
Personal Preferences
The specific likes, dislikes, desires, and interests of an individual, often influencing their purchasing decisions.
Scarcity
The core issue in economics is the presence of endless human desires within a finite resource environment.
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