Examlex
Entering a virtual world in avatar form and striking up a conversation with another avatar in real-time is an example of ________.
Economic Recession
A period of significant decline in total output, income, employment, and trade in an economy, usually lasting from six months to a year.
Gentlemen's Agreements
Informal, non-binding agreements based on trust, honor, and the integrity of the parties, without any written documentation.
Cartel
An agreement among competing firms to control prices or limit production in a sector, often to maximize profits at the expense of consumers.
Economic Performance
An assessment of how well an economy is functioning, often evaluated through indicators such as GDP growth rate, unemployment rates, and inflation.
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