Examlex
Prime costs are the combination of direct labor costs and factory overhead costs.
Inelastic Demand
A market situation where the demand for a product does not change significantly with a change in price.
Pareto Efficient
A condition of resource allocation in which making one person better off necessitates making another person worse off.
Net Benefit
The total benefits of a decision or action, subtracting any associated costs, reflecting the overall value or payoff.
Equitable Distribution
The fair and just allocation or distribution of resources among members of a society.
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