Examlex
In an attempt to learn something about his conscious experience, William looked at an abstract painting and wrote down all of his impressions as they came to him. This technique is called
Total Revenue
The total amount of money received by a company from sales of goods or services, before any expenses are subtracted.
Infant Industry
An industry in its early stages of development, which may be protected by the government from international competition temporarily until it becomes competitive.
Protective Tariffs
Import taxes imposed by a country on foreign goods to protect domestic industries from competition by making imported goods more expensive.
Comparative Advantage
The capacity of an entity to generate a product or service with a lesser opportunity cost compared to others.
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