Examlex
An integer format uses ____ bits to represent the number 12,345 in binary form.
Excludable
A feature of a product or service enabling its owner to exclude others from usage unless payment is received.
Property Rights
The legal rights to possess, use, and dispose of assets, including property and intellectual property.
Allocate Resources
The process of assigning available assets, time, and effort to various tasks or purposes in order to achieve specific goals.
Market Failures
Situations where the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.
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