An economy that does not interact with other economies in the world
Coase theorem 科斯定理
The proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own
Collective bargaining 集体谈判
The process by which unions and firms agree on the terms of employment
Collusion 勾结
An agreement among firms in a market about quantities to produce or prices to charge