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Home Categories Guide to Microeconomics Abenomics is a set of economic policies championed by Japanese Prime Minister Shinzo Abe when he came to power for the second time in 2012. Affiliation contracts are “take it or leave it” agreements where you have to accept or reject the contract as a whole. Litigation is the process by which the judge of the court resolves disputes between two parties. Asset protection refers to the strategies used to protect one’s wealth from taxation, confiscation or other losses. Barriers to entry describe high start-up costs or other barriers that prevent new competitors from easily entering an industry or area of business. Barter is the exchange of goods and services between two or more parties without the use of money. “Best Effort” is a legal term that represents the obligation of a party to a contract to take all possible steps to fulfill the terms of the agreement. Collusion occurs when entities or individuals work together to influence the market or pricing in their own interest. Comparative advantage is the ability of an economy to produce a particular good or service at a lower opportunity cost than its trading partners. A deed is a signed legal document that grants its owner the ownership of an asset, but may impose a number of conditions on the transfer of ownership.