Examlex
One category of general controls is physical and online access controls. Describe the control and give at two examples of implementation of the control.
Production Efficiency
A state in which the economy or a production process can no longer produce additional amounts of a good without lowering the production level of another product.
Long-Run Equilibrium
A state in which all factors of production can be adjusted, market supply equals demand, and economic agents have no incentive to change their behavior, leading to a steady-state market condition.
Competitive Industry
An economic sector characterized by a large number of firms that compete with each other to sell similar products or services, leading to efficiency and innovation.
Price
The cost anticipated, necessary, or paid out in return for acquiring something.
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