Examlex
Government subsidized scholarships are an example of a government policy aimed at correcting negative externalities associated with education.
Neoclassical Economics
An economic theory that focuses on how supply and demand balance to allocate resources efficiently in markets.
Behavioral Economics
A field of study that analyzes how psychological, cognitive, emotional, cultural, and social factors affect economic decision-making processes.
Rational Decisions
Choices made by individuals or entities based on logical assessment and comparison of the costs and benefits associated with different alternatives.
Financial Crisis
A situation where financial assets suddenly lose a significant part of their nominal value, often leading to widespread economic disruption and possibly a banking crisis.
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Q427: Using a supply and demand diagram,demonstrate how