Examlex
M1 consists of
Deadweight Loss
When a good or service's free market equilibrium is not met, a reduction in economic efficiency occurs.
Total Surplus
The sum of consumer surplus and producer surplus in a market, representing the total net benefit to society from the production and consumption of goods and services.
Tariff or Quota
A government-imposed restriction on the quantity of goods that can be imported (quota) or a tax levied on imported goods (tariff).
Domestic Consumers
People or family units in a nation who buy products and services for their own consumption.
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