__________ Is Defined as the __________ Association of Three or More

question 5

Short Answer

__________ is defined as the __________ association of three or more independent states willing to yield some measure of __________ for mutual benefit.

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Definitions:

Positive Profits

Financial gain experienced by a business when the total revenue exceeds the total costs and expenses incurred in producing goods or services.

Demand Fluctuates

Demand fluctuates refers to the constant variations in consumer desire for products or services, which can be influenced by factors like season, price, and trends.

Pollution Laws

Legislation and regulations designed to control or reduce the release of harmful substances into the environment.

Competitive Industry

An industry characterized by many firms, free entry and exit, and products that are similar but differentiated.