Examlex
CAD/CAM systems use powerful microcomputers running special programs that integrate the design and manufacturing activities.
External Benefits
Positive effects experienced by third parties or the society at large due to an economic transaction they were not directly involved in.
Competitive Market
A market structure characterized by many buyers and sellers, free entry and exit, and a homogeneous product.
Subsidizing Consumers
Directing government funds to reduce the price paid by consumers for goods or services, aiming to encourage consumption or support specific sectors.
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