Examlex
Select the word or phrase that best matches the definition or example.
-The massive transatlantic interaction and exchange between the Americas and Afro-Eurasia that began in the period of European exploration and colonization.
Joke
A narrative or statement intended to provoke laughter or amusement.
Market Failure
A situation in which the allocation of goods and services by a market is not efficient, often leading to a net social welfare loss.
Imperfect Information
A situation where buyers, sellers, or both lack the necessary information to make informed decisions about the market.
Private Goods
Goods that are excludable and rivalrous, meaning their consumption by one individual prevents another from consuming them.
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