Examlex
How did the Northwest Land Ordinance of 1785 attempt to resolve Indian land claims?
Patent
A legal document granted by the government, giving an inventor exclusive rights to make, use, and sell an invention for a certain number of years.
Demand Function
A mathematical function that describes the quantity of a good that consumers are willing and able to purchase at various prices.
Subsidy
A financial contribution granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.
Monopoly
A market structure characterized by a single seller who has exclusive control over the supply of a good or service and where entry by new competitors is obstructed.
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