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What is meant by the rationing function of prices?
Agency Relationship
A legal and fiduciary bond between two parties where one, the agent, is authorized to act on behalf and represent the interests of the other, the principal.
Terminated
The condition of being brought to an end or concluded, often referring to contracts, employment, or agreements.
Insolvency
The state of being unable to pay debts as they fall due or having liabilities exceed assets.
Principal
The party that an agent’s authority can bind or act on behalf of.
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