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Explain the framework used for assessing environmental uncertainty on the dimensions of complexity and stability.
Characteristics
Distinctive features or qualities that define a person, object, or phenomenon.
Utility Function
A mathematical representation of a consumer's preference, showing the level of satisfaction or utility derived from different bundles of goods and services.
Indifference Curve
A curve that shows the different bundles of goods between which a consumer is indifferent, highlighting the trade-offs a consumer is willing to make.
Apples
A popular fruit with a sweet to tart taste, grown in temperate climates and consumed fresh, cooked, or as juice.
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