Examlex
Define substrate and product.Are these definitions relative or absolute, and why?
Sequential Game
A strategic game in game theory where players make decisions one after another rather than simultaneously, allowing for the observation of previous moves before making a decision.
Simultaneous Game
A game in which all players make their decisions or select their strategies at the same time without knowledge of the others' choices.
Simultaneous Game
A scenario in which players make decisions or choose strategies at the same time without knowledge of the other players' choices.
Equilibrium
A state in a market where supply equals demand, causing prices to stabilize and transactions to occur without excess supply or demand.
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