Examlex
The concept of sacred refers to what is
Public Good
Goods that are non-excludable and non-rivalrous, meaning that consumption by one individual does not reduce availability to others, and people cannot be prevented from using them.
Consumption
The act of using goods and services by households.
External Costs
Costs of economic activity not borne by the producer or consumer but by society, often not reflected in the price of goods or services.
Economic Efficiency
A situation where resources are allocated in a way that maximizes the production of goods and services at the lowest cost.
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