Examlex
How is synthetic biology different from biotechnology as practiced in previous decades?
External Benefits
Positive effects of a production or consumption activity on individuals or society who are not directly involved in the transaction.
Subsidizing Production
Financial assistance provided by the government or other institutions to reduce the cost of producing goods or services and encourage increased output.
Negative Externalities
A situation where a third party suffers from a decision or action made by others, typically not reflected in the market price.
Positive Externalities
Benefits enjoyed by third-party individuals or the society at large, which result from an economic activity but are not reflected in the market prices.
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