Examlex
Globalization is accepted worldwide and creates little controversy.
Perfect Competition
A market structure characterized by many buyers and sellers, freedom of entry and exit, and a homogeneous product.
Perfectly Elastic
A situation in economic theory where the quantity demanded or supplied of a good changes infinitely in response to any change in price.
Demand Curve
A diagram depicting how the demand for an item varies with its price, generally characterized by a downward trajectory.
Marginal Revenue
The additional earnings gained by selling an extra unit of a good or service.
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