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If a storm breaks off the top of a tree, within a year or two, one of the lower branches will grow upward and become the new tree top, while inhibiting other branches from doing the same. This is an example of:
Payment Plan
An agreement between a borrower and a lender that outlines the terms for repaying a loan, typically including the loan amount, interest rate, and repayment schedule.
Marginal Benefit
The additional satisfaction or utility that a person receives from consuming an extra unit of a good or service.
Pollution Permits
Government-issued licenses allowing the holder to emit a certain amount of pollution; used as a regulatory tool to control and reduce environmental damage.
Pollution Levels
The concentration of pollutants in the environment, affecting air, water, and soil quality.
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