Examlex
All of the following are part of the Five Classics except for the
Free Trade
Worldwide trading conducted without interference through tariffs, quotas, or restrictions, following its inherent course.
Accounting Profits
The net income of a company calculated by subtracting total expenses from total revenues, following accounting rules.
Natural Monopoly
A market condition where due to high fixed costs or unique resources, a single firm can supply a product or service at a lower cost than any potential competitor, thus dominating the market.
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