Examlex
Potential energy can be defined only for non-conservative forces.
Internalized
The process of incorporating external costs or benefits into the market price of goods or services.
Efficient
Refers to a situation where resources are utilized in the best possible manner to produce desired outcomes without wasting materials, energy, or time.
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.
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