Examlex
Explain how information-based intellectual property, such as a digital book, is different from physical property and why it is harder to protect.
Economizing Behavior
The practice of minimizing costs or expenditures while achieving desired outcomes.
Opportunity Cost
The penalty of overlooking the closest preferable alternative in the course of decision-taking.
Satisfaction
The feeling of pleasure or contentment arising from meeting one's needs or expectations.
Rational Choice
A theory in economics that assumes individuals always make prudent and logical decisions that provide them with the highest amount of personal utility.
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