Examlex
If the production function is f(x1, x2)= x1x2, then there are constant returns to scale.
European Union
A political and economic union of 27 European countries that participate in a standardized legal and regulatory system.
Free-Trade Zone
A specific region within a country where goods may be imported, handled, manufactured, or reconfigured, and re-exported without the intervention of customs authorities.
Quota
A quota is a government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a certain time period.
Restriction
A rule or regulation that limits or controls actions or developments.
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