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According to the Northwest Ordinance, a territory could be admitted as a new state when
Industry
A category of businesses that produce or sell similar products or services, characterized by common challenges, opportunities, and market structures.
Network Effect
The phenomenon whereby a product or service gains additional value as more people use it.
Virtuous Circle
A chain of events that reinforce themselves through a feedback loop, leading to positive outcomes in a business or economic context.
Synergy
The combined effect of a group that exceeds the sum of the effects produced by each individual component, often leading to increased efficiency or productivity.
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