DefinitionA deadweight loss, also known as excess burden or allocative inefficiency, is a loss of economic efficiency that can occur when equilibrium for a...
DefinitionIn underconsumption theory in economics, recessions and stagnation arise due to inadequate consumer demand relative to the amount produced. It means that there is...
DefinitionA raw material, also known as a feedstock or most correctly unprocessed material, is a basic material that is used to produce goods, finished...