Examlex
One reason that government intervenes in markets is the attitude of the general public about market allocation.
Prototype
An original model or preliminary version from which other forms are developed or copied.
Normative
Relating to principles or rules of what is considered right and wrong, often used in economics to express subjective or value-based judgments.
Other Things Equal
A principle in economic models known as ceteris paribus, which means holding all other variables constant to isolate the effect of one variable.
Variables
Elements, factors, or quantities that can change or have different values in a given situation or analysis.
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