Examlex
The ________ cost to society of producing an additional unit of a good or service is the marginal social cost.
Government Licensing
The process by which a government authority grants permission to individuals or businesses to operate within a regulated profession or activity.
Patents
Legal documents granting inventors exclusive rights to their inventions for a certain period, preventing others from making, using, or selling the invention without permission.
Government Franchising
A method whereby the government grants a private entity the right to operate a public service or business within a certain territory or function.
Essential Resource
A resource considered vital for the survival of an economy or the operation of a business.
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