Examlex
What are the strengths and weaknesses of the negative income tax (NIT) as an alternative to traditional welfare programs?
Price Effect
The impact that a change in the price of a good or service has on consumers' demand for that good or service.
Output
The quantity of goods or services produced in a given time period.
Cartels
Formal agreements among competing firms in the same industry aimed at controlling production, fixing prices, and restricting competition.
Production
The procedure involved in producing goods and services.
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