Examlex
The practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas is referred to as
Socialist Economy
An economic system where the means of production are owned and managed collectively or by the state, aiming for equal wealth distribution and reducing social class differences.
Capitalist Economy
An economic system where trade, industries, and the means of production are largely or entirely privately owned and operated for profit.
Welfare State
A governmental system that provides social and economic support to its citizens, including healthcare, education, and financial aid.
Telecommuting
Working from home while staying connected to the office through communications technology.
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