Examlex
Customer interaction is often high for manufacturing processes, but low for services.
Positive Externalities
Benefits that are enjoyed by a third-party or the society at large as a result of an economic transaction.
Optimal Output
The level of production at which a firm or economy can produce goods at the lowest average cost, maximizing efficiency.
Government
The system or group of people governing an organized community, often a state, and the mechanisms and institutions through which they rule.
Efficiency Loss
Efficiency loss, also known as deadweight loss, is the loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.
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