Examlex
Which of the following statements is false?
Risk Preferences
Individuals' or entities' varying tolerance for risk, influencing their decision-making in uncertain situations.
Utility
A measure of satisfaction or happiness that a consumer gains from consuming a good or service.
Income
The financial gain received by an individual or business, typically in the form of wages, salaries, or profits, for providing labor or capital or through investing.
Statute of Frauds
A legal principle requiring certain types of contracts to be in writing and signed by the party or parties to be charged, with the purpose of preventing fraud and perjury in the performance and enforcement of agreements involving significant matters.
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