Examlex
FtF and telephone communication is synchronous.
Product Variety
Product Variety refers to the range of different products or services offered by a firm or available in a market.
Allocative Efficiency
A state of economic efficiency where resources are distributed in a way that maximizes the net benefit to society.
Monopolistic Competition
A scenario in the market characterized by numerous organizations providing products that are parallel but not the same, resulting in some level of market dominance.
Economic Inefficiencies
Situations where resources are not allocated optimally according to some criteria, leading to wasted or less effective outcomes.
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