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A good that has not been processed and is therefore in its natural state, specifically products of agriculture, forestry, fishing, and mining.
Industry:Economy
A strategic interaction in which two players both gain individually by not cooperating, but leading to a Nash equilibrium in which both are worse off than if they cooperated. Important especially for explaining why countries may choose protection even though all lose as a result. See tariff-and-retaliation game.
Industry:Economy
1. Without any adjective, or as "import protection," this refers to restriction of imports by means of tariffs and/or NTBs, and thereby intended to insulate domestic producers from competition with imported goods. 2. As "IP protection," or "intellectual property protection," this refers to enforcement of intellectual property rights by granting patents, copyrights, and trademarks and by prosecuting those who violate them.
Industry:Economy
Advocacy of protection. The word has a negative connotation, and few advocates of protection in particular situations will acknowledge being protectionists.
Industry:Economy
A good that is provided for users collectively, use by one not precluding use of the same units of the good by others.
Industry:Economy
A market structure in which the single seller has essentially no competition from producers of close substitutes or from potential entrants. The difference from a simple monopoly is not clear cut.
Industry:Economy
1. Referring only to the characteristics of something being described, rather than exact numerical measurement. 2. Indicative only of relative sizes or magnitudes, rather than their numerical values. A qualitative comparison would say whether one thing is larger, smaller, or equal to another, without specifying the size of any difference. As opposed to quantitative.
Industry:Economy
