Examlex
Under the doctrine of __________,when a person voluntarily and unreasonably assumes the risk of a known danger,the manufacturer is not liable for any resulting injury.
Negative Externality
A cost suffered by a third party due to an economic transaction that they were not involved in, often without compensation.
Externalities
External impacts of an economic activity on unrelated third parties, which can be either positive or negative.
Market Price
The existing cost at which a service or asset can be acquired or disposed of in a given market.
Market Fail
A situation where the allocation of goods and services by a market is not efficient, typically due to reasons like externalities, market power, or public goods.
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