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What is the difference between a preemptive war and a preventive war?
Payoff
The benefit or return that one receives as a result of an investment or action; a rephrasing of economic payoff emphasizing the outcome aspect.
Cartel
An association of independent businesses or countries that work together to control prices and limit competition for their mutual benefit.
Incentive
A benefit, reward, or cost that motivates an economic agent to engage in a particular course of action.
Oligopoly
A market structure characterized by a small number of large firms dominating the market, which have significant control over price and high barriers to entry.
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