Examlex
In the amortization of a mortgage loan with equal payments, the fraction of each payment devoted to interest steadily increases over time and the fraction devoted to reducing the loan balance decreases steadily.
Marginal Revenue
The increase in revenue that results from the sale of one additional unit of product or service.
Government Licensing
The process by which a government authority grants permission to individuals or businesses to operate within a regulated profession or activity.
Patents
Legal documents granting inventors exclusive rights to their inventions for a certain period, preventing others from making, using, or selling the invention without permission.
Government Franchising
A method whereby the government grants a private entity the right to operate a public service or business within a certain territory or function.
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