Examlex
Discuss two of the secondary environmental effects associated with volcanic eruptions.
Marginal Social Benefit
The additional benefit to society from consuming one more unit of a good or service, considering both private and external benefits.
Marginal Social Cost
The additional cost to society as a whole for producing one more unit of a good or service.
Public Good
A product or service that is available for all people to consume, regardless of whether any individual pays for it or not, typically provided by the government.
Common Resource
A natural or man-made resource that is non-excludable and rivalrous, such as fish in the ocean or a public park, which can lead to overuse and depletion.
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