Examlex
The ____________________ is a way of picking judges through nonpartisan elections as a way to ensure that judges adhere to the high standards of judicial performance.
Factor Markets
Markets where services of the factors of production (labor, capital, land) are bought and sold.
Oligopolies
Market structures dominated by a small number of large firms, leading to competition that is less than in perfectly competitive markets but more than in monopolistic scenarios.
Factor Market
The marketplace for services of the factors of production (labor, capital, land, and entrepreneurship) where factors are bought and sold.
Price Takers
Individuals or companies who accept the prevailing prices in the market of their products without having the ability to influence them.
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