Examlex
While greeting a person, variations in facial expression rarely carry any significance.
Short Run
A time period in which at least one factor of production is fixed, focusing on immediate effects.
Long Run
A period of time in economics where all factors of production and costs are variable, allowing full industry adjustment.
Economic Profit
The profit a company makes after subtracting both its explicit and implicit costs, including opportunity costs, from its total revenues.
Innovation
The introduction of new ideas, products, or methods, aiming at improving efficiency, value, or creating something novel.
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