Examlex
A good that is excludable is one that someone can be prevented from using if she did not pay for it.
Rule Of 70
A method used to estimate the number of years it will take for a variable to double, calculated by dividing 70 by the annual growth rate.
Interest Rate
The proportion of a specified sum that is added as a charge for borrowing it, usually stated as an annual rate.
Utility Function
A mathematical representation describing how a consumer ranks different bundles of goods according to levels of satisfaction.
Risk Averse
A preference for guaranteed outcomes over those with uncertainty, even if the uncertain outcomes might offer a higher expected return.
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