Examlex
The current account shows international transactions in goods and services, the capital account shows international transactions involving the flow of financial assets, and the official reserve transactions account shows movement of international reserves.
Inelastic
Inelastic refers to a situation in economic terms where the demand or supply for a good or service is relatively unresponsive to changes in price, meaning the quantity demanded or supplied changes by a smaller percentage than the price change.
Perfect Competition
A market structure characterized by an infinite number of buyers and sellers, homogeneous products, perfect information, and no barriers to entry or exit.
Resources Allocation
The process of assigning available resources among various uses in an economy or organization to maximize the efficiency of those resources.
Firms Efficiency
The degree to which a company utilizes its resources effectively to produce goods and services and maximize profit.
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