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Explain the process of emotional contagion. Give an example of how this can occur in a small group setting.
Negative Externality
An economic situation where a third party is negatively affected by the actions of others, typically not reflected in the cost of those actions, such as pollution.
Common-Resource Problem
A dilemma in the management of resources that are available to all but are susceptible to overuse and depletion because they are not excludable.
Nontoll Roads
Public roads that can be used without paying a fee, financed by taxes rather than direct user charges.
Public Goods
Products or services that are non-excludable and non-rivalrous, meaning they can be consumed by one person without preventing simultaneous consumption by others.
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