Examlex
A clean bed in a hotel would be considered as an order satisfier.
Short-Run Equilibrium
The state in which the quantity supplied equals the quantity demanded within a short time frame, often with some factors held constant.
Economic Loss
The monetary value of the decrease in welfare or trade-offs resulting from an economic transaction or decision, beyond just the physical loss.
Product Differentiation
The strategy of setting a product or service apart from others in the industry to enhance its attractiveness to a specific target group.
Allocative Efficiency
A condition of distributing resources in which improving the situation of one person necessitates the detriment of another.
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