Examlex
The process of dissolving table salt,NaCl,in water involves an increase in entropy.
Technological Improvements
Innovations and advancements in technology that enhance productivity, efficiency, and capacity in production processes.
Market Failure
A situation in which the allocation of goods and services by a free market is not efficient, leading to a loss of economic value.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.
Nonexcludable
A characteristic of a public good where no one can be prevented from using it.
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