Examlex
Explain the legal structures that affect international trade.
Spreading Effect
A phenomenon in economics where an initial investment leads to additional benefits that spread beyond the immediate context, often stimulating further economic activity.
Fixed Cost
Expenses that remain constant regardless of the firm's production volume.
Output
The cumulative quantity of products or services generated by a corporation or nation.
AVC
Average Variable Cost is the total variable costs divided by the quantity of output.
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