Examlex
Define regulatory offences and provide an example to support the definition.
Misallocation
The inefficient or inappropriate distribution of resources in a manner that does not maximize economic efficiency or output.
Production Cost
The total expense incurred in the manufacture of a product, including raw materials, labor, and overhead costs.
Black Market
Illegal trade of goods and services, beyond government control, where transactions typically occur “under the table” to avoid taxes or regulations.
Illegal Goods
Products or services whose production, sale, or possession is prohibited by law.
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