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The allocation of resources is efficient under an idealized free market system.
On/off Control
A straightforward control technique which switches a system or device between its operational and non-operational states.
Analog Control
A method of controlling systems using continuous signals rather than digital or discrete signals.
Final Control Element
The component in a control system that directly regulates the flow of energy or material in the process, such as a valve or actuator.
Time Proportioning Control
A control method where the output is turned on and off at a rate proportional to the error value, used in PID controllers, for precise control.
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