Examlex
The sum of the value added by all of a nation's individuals and businesses in a year equals:
Concentration Ratio
An indicator of the percentage of an industry's market controlled by its biggest companies.
Leading Firms
Leading firms are companies at the forefront of their industries, often setting standards and trends for others to follow.
Perfect Competitor
an individual firm operating in a perfect competition market structure, which cannot influence the market price and produces a standard product.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded by consumers, typically sloping downward from left to right.
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