Answer:
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<u>Answer:</u> An action or decision that later serves as an example is "Precedent"
<u>Explanation:</u>
An earlier incident or action which is considered an indicator or a reference to be used in similar circumstances afterwards is termed as "Precedent". There are two kinds available as persuasive precedents and binding precedents.
A precedent or authority is a legal case in common law legal systems that sets out a principle or rule. The court or other judicial bodies then use this principle or rule when deciding later cases with similar matters or facts.
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expanding trade and new technology will be making fortunes