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Evaluate the determinant.
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Pareto Optimal
A scenario in resource distribution where it's impossible to benefit one individual through reallocation without causing harm to another individual.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning that no one can be effectively excluded from use and one person's use does not diminish another's.
Private Consumption
The spending on goods and services by individuals or households, as opposed to public or government spending.
Social Welfare Function
An economic function that ranks societal allocations of resources based on ethical principles, intending to maximize collective satisfaction or utility.
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