Examlex
What is syndicated data? List any three firms that provide syndicated data and the type of data they offer.
Externality
A side effect or consequence of an economic activity that affects other parties without this being reflected in the cost of the goods or services involved.
Compensation
A broad term referring to the combination of salaries, wages, benefits, and other forms of value provided to employees for their services.
Private Bargaining
The process through which individual parties negotiate terms and conditions exclusively among themselves without the intervention of external regulations.
Efficient Outcome
An optimal allocation of resources that results in the highest possible satisfaction or utility with the least waste or inefficiency.
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