Examlex
Why is the financial industry inherently more unstable than most other industries?
Annual Lease
A contract or agreement stipulating the rental terms of a property for one year, often specifying the rent amount, payment schedules, and other conditions.
Minimum Efficient Scale
The smallest level of production at which long-term average total costs are minimized.
Natural-Monopoly Situation
A market condition in which a single firm can produce output at a lower cost than can multiple firms, leading to a monopoly justified by efficiencies of scale.
Implicit Costs
The opportunity costs that arise from using resources that a business already owns rather than earning revenue from those resources elsewhere.
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