Examlex
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Subsidy
Financial support extended by the government to an economic sector (or institution, business, or individual) with the aim of promoting economic and social policy.
Highly Elastic
Refers to a strong responsiveness of the quantity demanded or supplied of a good to a change in its price.
Statutorily Granted
Pertains to rights or powers given or enforced by a legislative body or statute.
Government Subsidy
Financial assistance provided by the government to individuals, organizations, or industries to support their operation or reduce the price of their products.
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