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Utility Function
A mathematical model that represents consumer preferences by assigning a level of utility, or satisfaction, to different bundles of goods or services.
Probability
An indicator of the probability of an event happening, represented by a value ranging from 0 to 1.
Wealth
The abundance of valuable resources or material possessions, or the control of such assets.
Flood
An overflow of water that submerges land that is usually dry, often caused by heavy rain, melting snow, or failure of a dam.
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