Examlex
All of the following exchange-rate systems require international reserves to finance balance-of-payments disequilibriums except:
Perfect Competitor
A theoretical market structure where numerous small firms sell identical products, and no single seller can influence the market price.
Demand Curve
A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing to purchase at different prices.
Marginal Revenue Curve
A graphical representation showing how additional sale of one more unit of a good or service affects the total revenue.
New Firms
Businesses that have been recently established, entering the market to offer goods or services.
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