Examlex
The services or responsibilities provided by some intermediaries can be eliminated effectively without causing an increase in the services or responsibilities provided by other middlemen.
Entertainment
Activities, performances, or media produced to provide enjoyment and amusement to individuals or groups.
Subsidy
is financial assistance provided by the government to individuals or groups to support an economic activity deemed beneficial.
Revealed Preferred
A concept in consumer choice theory that preferences can be determined by observing consumer choices under different constraints.
Violates WARP
Refers to a situation where an individual's choice behavior contradicts the Weak Axiom of Revealed Preferences, suggesting inconsistency in their preferences.
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