Examlex
Universal functions of the family include regulation of sexual behavior, reproduction and socializing children, and social placement.
Economic Efficiency
A situation where resources are utilized in the most optimal manner, producing the desired output with minimum waste or expense.
Producer Surplus
The difference between what producers are willing to accept for a good versus what they actually receive.
Consumer Surplus
Consumer surplus is the difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.
Property Rights
The legal rights to own, use, and dispose of assets including real estate, personal possessions, and intellectual property.
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