Examlex
Using Mendel's flower color (purple is dominant, white is recessive) , if a two heterozygous plants are crossed, what is the probability that the first two offspring will have purple flowers?
Government Intervention
Actions taken by a government to influence or regulate different aspects of its economy.
Coase Theorem
Suggests that if property rights are clearly defined and transaction costs are low, parties will negotiate to solve externalities on their own.
Externalities
Costs or benefits that affect a party who did not choose to incur that cost or benefit, often leading to market failures.
Private Sector
The part of the economy that is run by individuals and companies for profit and is not state controlled.
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