Examlex
The times (in minutes) that several underwriters took to review applications for similar insurance coverage are 50,230,52,and 57. What is the median length of time required to review an application?
External Benefit
A benefit gained by individuals or society that is not reflected in market transactions, often associated with positive externalities.
Third Party
In the context of transactions, a third party is an entity besides the two primary parties involved, often providing an additional service or playing a regulatory role.
More Pay
Refers to an increase in the amount of money an employee receives for their work, either through raises, bonuses, or overtime compensation.
Communist Country
A nation that operates under a system of government where the state plans and controls the economy and a single—often authoritarian—party holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people.
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