Examlex
A system has one service facility that can service 10 customers per hour. The customers arrive at an average rate of 6 per hour. Utilization is ________.
Invisible Hand
A metaphor used by Adam Smith to describe the unintended social benefits resulting from individual actions.
Adam Smith
An 18th-century Scottish economist and philosopher, best known for his works "The Wealth of Nations," which laid the foundations for classical free market economic theory.
Free Market
An economic system where prices for goods and services are determined by the open market and consumers, in contrast to a controlled economy.
Religious Liberty
The freedom to practice one’s religion without interference from the government or discrimination by others, protected by law in many democratic societies.
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