Examlex
Two additional rights added in the last decade are the right to consumer education and the right to courteous service.
Private Property
Legal rights that allow individuals or entities to own, use, and dispose of assets.
Demand and Supply
Fundamental economic concepts that describe the amount of a product or service available for purchase (supply) and the desire of buyers for it (demand), influencing price and market equilibrium.
Market Failure
A situation where the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.
Allocated Efficiently
A resource allocation where resources are distributed in a way that maximizes the net benefit to society or achieves a desired outcome effectively.
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