Examlex
The World Trade Organization and GATT helped reduce international trade barriers after World War II.
Public Sector
The part of the economy comprised of government services and enterprises, including infrastructure, public education, and healthcare.
Economic Efficiency
A state where resources are allocated in a way that maximizes the production of goods and services.
External Cost
Uncompensated costs that individuals or firms impose on others outside of market transactions, often associated with pollution.
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Q7: What is a free trade area? Provide
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