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Which of the following is an essential element of a contract?
Professional Basketball Game
An organized, competitive basketball contest played by professionals in a league, often characterized by high skill levels and entertainment value.
Deadweight Loss
A loss in economic efficiency that can occur when the equilibrium for a good or service is not achieved or is unattainable.
Commodity
A basic good used in commerce that is interchangeable with other goods of the same type.
Tax
a financial charge or other levy imposed upon a taxpayer by a governmental organization in order to fund public expenditures.
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