Examlex
What is meant by the phrase "security through obscurity," and why is this concept not accurate?
Simplifying Assumptions
Basic conditions that modelers set to make complex economic analyses more manageable and understandable.
Rationality
The quality of being based on or in accordance with reason or logic; often involves making decisions that are optimal based on available information.
Neoclassical Economic Models
These models are based on the assumptions of rational behavior and efficient markets, focusing on how supply and demand determine prices and allocate resources.
Determinants
Determinants are factors or elements that cause something to happen or significantly influence the outcome of a process or situation.
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