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3.14
Neoclassical Economics
A framework within economics that predominantly focuses on the determination of goods, outputs, and income distributions in markets through supply and demand as mediated by prices.
Behavioral Economics
A field of economics that studies how psychological, cognitive, emotional, cultural, and social factors affect economic decisions.
Natural Disasters
Catastrophic events caused by natural processes of the Earth, such as earthquakes, hurricanes, and floods, affecting societies and economies.
Behavioral Economists
Economists who study the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions.
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