Examlex
Why is law such an important part of American life?
Free Trade
The absence of artificial (government) barriers to trade among individuals and firms in different nations.
Economic Inefficiency
A situation where resources are not allocated optimally, leading to waste or loss in the potential value of output.
Hollow Corporation
A business model where a company outsources most of its production processes, keeping only core functions such as design, marketing, and branding in-house.
Imports Foreign Goods
The act of bringing goods and services from foreign countries into one's own country for sale.