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Tariff
A tax imposed by a government on imported goods or services to protect domestic industries or generate revenue.
Infant Industry
A new or emerging industry that may be protected by the government from international competition to allow it to grow.
Technological Efficiency
A measure of the effectiveness with which a technology converts inputs into outputs, often seen as achieving the maximum productivity with the least waste.
Silicon Chip
A small piece of silicon that contains integrated circuits used in electronic devices for processing or storage.
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