Examlex
The textile workers at a local company have had a stressful weekend. Their union has been engaged in contract negotiations for the past 72 hours. When those on the 6 A.m. shift arrive at the factory the doors are chained and they cannot get in. What is this situation called?
Private Costs
The costs that are incurred by an individual or a company when producing goods or services.
Bystanders
Individuals who are present at an event or incident but do not take part in it, often discussed in the context of emergency situations or accidents.
Congestion Toll
A fee charged to drivers who use certain roads during peak periods, intended to reduce traffic congestion by discouraging the use of those routes.
Internalizing
The process of absorbing or taking in information, values, or costs, often used when discussing the incorporation of external costs into market prices.
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