Examlex
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Total Surplus
The total net gain to society from creating and consuming a product or service, encompassed by the combination of consumer and producer surplus.
Deadweight Loss
An inefficiency in the economy that results when the market equilibrium for a good or service isn't attained or is unattainable.
Tariff
A tax imposed on imported or, less commonly, exported goods with the aim of raising the cost to influence trade dynamics.
Domestic Consumers
Individuals or households within a country who purchase goods and services for personal use.
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