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Sarin Gas Is a Type of Organophosphate

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 Sarin gas is a type of organophosphate. It was released in a Tokyo subway in 1995 by a religious sect, killing 12 people. Organophosphates are dangerous because they

Distinguish between adverse selection and moral hazard in the context of economic transactions.
Identify mechanisms used to mitigate adverse selection and moral hazard in insurance markets and other scenarios.
Recognize the impact of government interventions, such as subsidies, on market behaviors and outcomes.
Comprehend how warranties and other signaling mechanisms can address information asymmetry in markets like used cars.

Definitions:

Structured

Organized in a clear, systematic way, often with a well-defined framework or outline.

Formalized

Pertaining to the establishment of procedures or rules that are officially documented and enforced within an organization, leading to structured operations.

Role-Play

An educational or training technique in which individuals act out roles to explore particular scenarios or topics.

Enactment

The process of making something into law or establishing something in a legal or formal way.

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