Examlex
_____ means extending the search for and commercialization of new products beyond the boundaries of an organization and even beyond the boundaries of an industry.
Circular Flow Model
An economic model illustrating the continuous movement of goods, services, and money among households and businesses in an economy.
Market System
An economic system in which decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in free markets.
Inefficiency
A condition where resources are not used in the most economically beneficial way, leading to wasted resources or less-than-optimal outcomes.
Communist Central Planning
An economic system where all major production decisions are made by the government, with an aim of allocating resources according to a comprehensive plan.
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