Examlex
Instructions: Explain/Define the following terms.
Aden
Pure Monopoly
A market structure in which a single supplier provides a unique product or service, with no close substitutes and high barriers to entry.
Output Quantity
The total amount of a product produced by a company, industry, or economic sector within a given timeframe.
Rent-seeking
The practice of individuals or firms leveraging their resources to obtain economic gains without reciprocating any benefits back to society through wealth creation.
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