Examlex
UDP does not provide the same level of reliability and error checking as TCP, because it relies only on the checksum to ensure reliability.
Output
The total amount of goods or services produced by a business, industry, or economy.
Economic Efficiency
A situation where resources are utilized in the most optimal manner, producing the desired output with minimum waste or expense.
Producer Surplus
The difference between what producers are willing to accept for a good versus what they actually receive.
Consumer Surplus
Consumer surplus is the difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.
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