Examlex
The system that relays messages in the form of electrochemical impulses throughout the body is called the __________ system.
Producer Surplus
The discrepancy between the price at which sellers are prepared to offer a product and the actual selling price they obtain.
Market Failure
The failure of a market to be efficient; when the individual pursuit of self-interest leads to bad results for society as a whole.
Market Power
The ability of a producer to raise prices.
Externalities
External benefits and external costs.
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