Examlex
Cystic fibrosis is a fatal lung condition that results from a recessive gene. If one parent is a healthy carrier for the condition while the other is not a carrier,what is the likely outcome for any children they might have?
Tariff
A tariff is a tax imposed by a government on imported or exported goods to regulate trade, often to protect domestic industries.
Free Trade
An economic policy that allows imports and exports between countries with minimal governmental restrictions or tariffs.
Consumer Surplus
The discrepancy between the sum consumers are ready and capable of paying for a service or product and the sum they actually spend.
Producer Surplus
The discrepancy between what producers anticipate accepting for a good or service and what they end up being paid.
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