Examlex
Match the term with the definition.
-This early-twentieth-century pact between Great Britain,France,and Russia was formed as part of a complex network of diplomacy intended to prevent war in Europe by balancing power.In actuality,such agreements made large-scale conflict more likely.
Patents
Legal documents granting an inventor exclusive rights to produce, use, and sell an invention for a certain period of time.
Research And Development
The investigative activities a business or government engages in to improve existing products and procedures or to lead to the development of new products and procedures.
Economies Of Scale
Cost advantages that a business achieves due to expansion in the scale of production, leading to a reduction in the cost per unit.
Natural Monopolies
Market conditions where a single supplier is the most efficient (due to high infrastructure costs or other barriers) in providing a particular good or service.
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