Examlex
The purchase by a household in China of a CD produced in the United States is included in U.S.
Allocatively Efficient
Allocative efficiency occurs when resources are distributed in a way that maximizes the net benefit to society.
Productively Efficient
Refers to a situation where an economy or firm produces goods at the lowest possible cost per unit, utilizing resources in the best way possible.
Product Differentiation
Product differentiation is the process of distinguishing a product or service from others in the market to make it more attractive to a particular target market.
Four-Firm Concentration Ratio
A measure of market concentration, representing the combined market share of the four largest firms in an industry.
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