Examlex
When the relationship between a principal and an independent contractor is not an employment relationship, it is an agency relationship.
Protected Industry
An industry that receives government support through measures like tariffs, quotas, and subsidies to shield it from foreign competition.
Productivity Growth
An increase in the efficiency of producing goods and services, typically leading to economic growth.
Resource Cost
The total cost of all inputs used in the production of goods or services, including raw materials, labor, and capital. It reflects the expenditure needed to create and bring a product or service to the market.
Trade
The exchange of goods and services between individuals or entities, typically referring to international trade involving the movement of products across borders.
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