Examlex
OBIT is an acronym for which of the following?
Production
Production is the process of creating goods or services through the combination of labor, materials, and technology to meet consumer demand.
Marginal Social Cost
The cost to society of producing one additional unit of a good, including both the cost to the producer and any costs to others from that production.
Marginal Social Benefit
The additional benefit to society resulting from the production or consumption of one more unit of a good or service.
Pollution
The contamination of the natural environment by harmful substances or energies, often resulting from human activities.
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