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Silicon Chip
A small piece of silicon that contains integrated circuits used in electronic devices for processing or storage.
Deadweight Loss
A loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.
Import Quotas
Restrictions imposed by a government on the quantity or value of goods that can be imported into a country, used to protect domestic industries.
Tariff
A tax imposed on imported goods, usually to raise government revenue and protect domestic industries from foreign competition.
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