Examlex
When individuals' behaviors are tracked from television sets to checkout counters using equipment provided by the marketer, this is known as
Private Enterprise
Businesses or economic activities owned and managed by individual private owners rather than by the state.
Former Soviet Union
The socialist state that existed from 1922 to 1991, comprised of Russia and several other republics, which disbanded, leading to the formation of independent countries.
Externalities
Economic side effects or consequences of commercial activities that affect other parties without being reflected in the cost of the goods or services involved.
Market Failure
A less than efficient allocation of resources.
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