Examlex
The process of countries becoming more open to foreign trade and investment and a trend towards a more integrated global system is known as
Control Over Price
The ability of a person or entity to influence the market price of a product or service.
Individual Producer
A single entity or person that creates goods or provides services in an economy.
Market Power
Refers to the ability of a firm or group of firms to manipulate the price and output levels in the market to their advantage.
Supply
The total amount of a specific good or service available to consumers at a given price level.
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