Examlex
When voluntary exchange takes place, both parties gain from the exchange.
Economy
A system of production, consumption, and distribution of goods and services within a society or geographical area.
Distribution
The process of making a product or service available for the consumer or business user that needs it, which can involve transportation, packaging, and delivery.
Production
The process of creating, developing, manufacturing, or bringing forth goods and services, typically involving both human labor and tools or machinery.
Collective Ownership
A principle or practice where the assets or property are owned jointly by all members of a group or community, emphasizing shared rights and responsibilities.
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