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According to some theorists, the difference between speculation and gambling is:
I. The outcome for a gambler is the thrill of the risk so gambling is a form of entertainment II . Speculators accept a certain level of risk which must be commensurate with the level of return. III. The belief that commensurate gain relative to risk is a constant, but gambling accepts risk for its own sake. IV . Both gamblers and speculators have heterogeneous expectations
a . I and II b . III and IV c . I and IV d . II and III
Sagot :
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