Examlex
Match the individual with the term he coined.
-equipotentiality
Economic Efficiency
The optimization of resources to best fulfill the needs and wants of individuals and society with the least waste.
Government Regulations
Rules set by government bodies to control or guide specific activities within the economy or society.
Long-Run Economic
Refers to an extended period during which all factors of production and outputs can be adjusted.
Differentiated Product
A product that is distinguished from similar products in the market by unique characteristics, leading to customer perception that there is no perfect substitute.
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