Examlex
When checking ring and pinion runout, read the backlash at several points around the gear. The maximum variance should be no more than ____.
Property Rights
Legal rights to possess, use, and dispose of assets including tangible and intangible property.
Negative Externality
A cost that affects a third party who did not choose to incur that cost, often associated with pollution or public health issues.
Ronald Coase
A British economist known for his work on transaction costs, property rights, and the theory of the firm.
Negative Externalities
Unintended and unfavourable outcomes or costs imposed on a third party not involved in a transaction or activity.
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