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What Are the Two Primary Types of Trade Controls? Give

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What are the two primary types of trade controls? Give a description and an example of each major type.

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Definitions:

Economies of Scale

Refers to the cost advantage experienced by firms when they increase their level of production. The advantage arises due to the inverse relationship between per-unit fixed cost and the quantity produced.

Oligopolistic

Pertaining to an oligopoly, a market structure with a few firms dominating the industry, leading to limited competition.

Herfindahl-Hirschman Index

A measure of market concentration to assess the level of competition within an industry.

Herfindahl-Hirschman Index

A measure of market concentration, calculated by summing the squares of the market shares of all firms in the industry.

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