Examlex
The value of favoring the small over the large and the rural over the urban is called ______.
OPEC
The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization of oil-producing countries that coordinates and unifies the petroleum policies of its member states.
Efficient Allocation
The distribution of resources in a way that maximizes the net benefit to society or achieves a desired outcome effectively.
Equitable Allocation
The fair and just distribution of resources among different groups or individuals.
Gains From Trade
The increase in utility or welfare that countries or individuals can achieve by specializing in the production of goods they are relatively more efficient at and exchanging them.
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