Are there any options to choose from?
Answer: Ambiguity aversion
Explanation:
In economics and decision theory in general, ambiguity aversion refers to the preference for known risks over unknown risks. This means that in a scenario in which there´s an option in which probable outcomes are unknown, people would rather choose an option in which probable outcomes are known.
No to be confused with risk aversion, which only applies to situations where each probable outcome can be established.
European countries are known to colonize other countries as ways of exploring to increase their power and establish their prestige. One example is Spain.
<span>The rising price of gold causes people to buy silver jewelry instead.
substitution effect
</span><span>When the price of chicken increases, families reduce their chicken intake substantially.
income effect
</span><span>A new factory in a village provides livelihoods for the villagers.
positive externiality
</span><span>A new factory in a village causes noise pollution.
negative externiality
</span>
Standing committee jurisdiction is defined by the subject matter of legislation, which often parallels the major cabinet departments or agencies.
<h3>What is function of standing committees?</h3>
The standing committees are been put in place so that they can give a claim to consider and recommend actions that is needed base on their jurisdiction.
Therefore, they propose policies in the functional areas with respect to their Council.
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