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Table 10-4
-Refer to Table 10-4. Taking into account private and external costs, total surplus in the market equilibrium amounts to
Accountability
Generally involving such concepts as responsibility, liability, and other terms associated with the expectation of account-giving; the acknowledgment and assumption of responsibility for one’s actions.
Responsibility
The duty to deal with something or to take care of something or someone.
Liability
Legal responsibility or obligation, often referring to the state of being responsible for something, especially in financial or legal contexts.
Scope of Practice
Principles of self-boundaries of the profession.
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