Examlex
Explain how money adds to welfare although it does not directly produce anything.
Random Variable
A variable whose values are determined by the occurrences of an unpredictable event.
Occurrences
The instances or frequencies at which a specific event or outcome is observed.
Probability
A measure of the likelihood that an event will occur, often represented as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
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