Category: Concepts
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Arbitrage
Arbitrage is a financial strategy of profiting from price differences in separate markets. It involves buying low in one market and selling high in another. This tactic, which requires market knowledge and mathematical models, contributes to market efficiency and price equilibrium.
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Gell-Mann Amnesia Effect
The Gell-Mann Amnesia Effect is a phenomenon where individuals trust media information despite recognizing its inaccuracies in their areas of expertise. This cognitive bias underscores the importance of critical thinking and media literacy.
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Learned Helplessness
Learned helplessness is a psychological condition where individuals feel powerless and passive due to consistent exposure to uncontrollable and negative events. It can decrease motivation and problem-solving, but can be overcome through self-efficacy strategies and cognitive restructuring.
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Agency
Agency refers to an individual’s ability to act independently, make their own choices, and influence their surroundings. It is a dynamic concept, evolving with personal growth, knowledge, and experiences.
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The Basics
In any field, the basics serve as the groundwork on which advanced knowledge is built. If you don’t have a solid grasp of the basics, you’re likely to struggle when more complex concepts or techniques are introduced. This is the educational equivalent of constructing a building—without a solid foundation, the higher stories won’t stand.