Examlex
If some resources went to waste rather to use in production, the economy would operate outside its production possibility curve.
Principal's Instructions
Guidelines or orders given by a principal to an agent detailing how to perform specific tasks or duties.
Agent's Authority
The scope of power given to an agent to act on behalf of a principal in legal or business matters.
Best for Principal
A standard or principle requiring actions or decisions to be made in the best interest of the principal or the party represented.
Agency Relationship
A legal arrangement where one party, the agent, is authorized to act on behalf of another, the principal, in business dealings.
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