Examlex
Which one of the three major kinds of volcanoes consists almost exclusively of pyroclastic debris?
Excess Capacity
The situation where a firm or an economy is producing less than its potential output, often indicating inefficiencies or a lack of demand.
Monopolistic Competition
A market structure characterized by many firms offering products that are similar but not perfect substitutes, allowing for some degree of market power.
Pure Competition
A market structure characterized by a large number of sellers and buyers, homogeneous products, and the ease of entering and exiting the market.
Product Differentiation
The process of distinguishing a product or service from others, to make it more attractive to a particular target market.
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