Examlex
A limited liability company cannot have any more than two of the following corporate characteristics: limited liability, continuity of life, free transferability of interest, and centralized management.
Partial Equilibrium Analysis
An economic analysis method focusing on the equilibrium of a specific sector or market, ignoring the effects on and from other markets.
Equilibrium Conditions
Refers to the state where market supply and demand balance each other, and as a result, prices become stable.
Clear All Markets
A theoretical situation where supply equals demand in all markets, leading to economic equilibrium.
Efficiency
The ability to accomplish a task or a set of tasks with the minimum expenditure of time and resources.
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