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The Willingness to Explore New Ideas Is Known as ________

question 4

Multiple Choice

The willingness to explore new ideas is known as ________ as opposed to certainty where one person believes that others cannot possibly contribute new knowledge to the situation.


Definitions:

Nonrival

A characteristic of a good or service that implies one person's consumption does not reduce its availability to others.

Public Good

A good that is non-excludable and non-rival in consumption, meaning no one can be prevented from using it and one person's use does not reduce availability to others.

Marginal Social Benefit

The additional benefit to society from producing one more unit of a good or service.

Marginal Benefit

The bonus satisfaction or benefit gained by consuming one more unit of a good or service.

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