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Life Insurance
A contract between an insurer and a policyholder where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.
Productivity
A measure of the efficiency of a person, machine, system, etc., in converting inputs into useful outputs.
Separating Equilibrium
In game theory, a situation where different types of players choose distinct strategies, allowing them to be separated or identified based on their choices.
Quality Distribution
refers to the variety and allocation of goods or services of different quality levels within a market.
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