Examlex
Which of the following countries is a member of NATO?
Short Run
A period in which at least one input (such as plant size) is fixed, and only the variable inputs can be adjusted.
Price System
An economic mechanism that uses prices arising from supply and demand interactions to communicate information to help guide the allocation of resources.
Scarce Goods
Goods that are limited in supply in comparison to their demand, necessitating allocation mechanisms.
Automatically Distributes
Refers to processes or systems that allocate resources, duties, or information without the need for human intervention.
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