Examlex
In short-term memory,
Resource Allocation
The process of assigning and managing assets in a manner that effectively supports an organization's strategic goals.
Factor Markets
Marketplaces where services of the factors of production (like labor, capital, and land) are bought and sold.
Voluntary Exchange
A transaction where both parties agree to trade goods or services by choice.
Perfect Competition
A market structure where many firms sell identical products, entry and exit are easy, and no single buyer or seller can affect prices.
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