Examlex
is the belief that recognizes that animate spirits live in natural objects and operate in the world.
External Benefit
A benefit gained by individuals or firms not directly involved in a transaction, leading to positive side effects or spillovers.
Private Cost
The direct cost that producers or consumers incur through their actions, not including externalities.
Private Value
Refers to the value that an individual or a private entity assigns to a good or service, based on personal assessment rather than market perception.
Economists
Experts in economics who study, develop, and apply theories and concepts about how economies work and distribute resources.
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