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A Person's Utility Is Determined by the Preferences He/she Exhibits

question 26

Multiple Choice

A person's utility is determined by the preferences he/she exhibits for decision choices involving __________.


Definitions:

Risk-taking Individual

is a person who is willing to undertake actions that involve uncertainty or risk in order to achieve potentially significant results.

Entrepreneur

An entrepreneur is a person (or group of people) who creates the new enterprise, opportunity or business venture.

Self-employed Service Business

A self-employed service business is operated by an individual who provides services, rather than goods, directly to customers on a freelance or contract basis.

New Product

An item that is introduced in the market for the first time or a significantly improved or modified version of an existing product.

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