Examlex
Bad luck is the most often reported cause for small business failure.
Efficiency
Efficiency in economics means the optimal allocation of scarce resources to meet the desired objectives, minimizing waste and maximizing value.
Economy
A broad term that encompasses all activities related to the production, consumption, and trade of goods and services in an area or country.
Partial Equilibrium
A concept in economic analysis that examines the equilibrium condition in a single market or sector without considering interactions with other markets or sectors.
Technological Advance
The improvement or development of new methods, devices, or materials that increase efficiency and productivity.
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