Examlex
Communism is an economic and political system in which the state makes almost all economic decisions and owns almost all the major factors of production.
Wealthy
Possessing a substantial amount of money, assets, or valuable resources, significantly above the societal average.
Private Information
Information that is not publicly available and is held privately by individuals or organizations, often leading to asymmetrical information in markets or negotiations.
Economic Inefficiency
A situation where resources are not allocated in the most beneficial manner, resulting in waste or a loss of potential gain.
Mutually Beneficial Transactions
Exchanges or deals that provide a gain to all parties involved, often used in the context of trade or economic transactions.
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