Examlex
An item characteristic curve that rises gradually and then turns down for people at the highest levels of performance
Individual Transferable Quotas (ITQs)
Limits (quotas) set by a government or a fisheries commission on the total number or total weight of a species that an individual fisher can harvest during some particular time period; fishers can sell (transfer) the right to use all or part of their respective individual quotas to other fishers.
TAC
Total Average Cost, the sum of all production costs divided by the number of goods produced, indicating the average cost per unit of product.
Arms Race
A competition between two or more parties to have the best armed forces and military technology, often leading to increased military spending and stockpiling of weapons.
Property Rights
Legal rights to possess, use, and dispose of assets including real property (land and buildings) and intellectual property.
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