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Discuss the five most negative conditions associated with sweatshops.What are some of the outcomes of unionization and anti-sweatshop movements that have attempted to deal with these negative conditions?
Rational Decision
The choice made by logically considering all available information, potential costs, and benefits to achieve the optimal outcome.
Bounded Rationality
A concept suggesting that decision-making is limited by the information available, cognitive limitations of the mind, and the finite amount of time available to make a decision.
Opportunity Costs
The potential benefits or profits lost when choosing one alternative over another, representing the cost of forgone opportunities.
Rational Decision
A decision-making process that is based on making choices that result in the optimal level of benefit or utility for an individual.
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