Examlex
How is the bicarbonate formed when carbonic anhydrase is present?
Efficient
The optimal allocation of resources in a manner that maximizes output or outcomes without wasting any resources.
Social Goods
Goods that benefit all members of society and are often provided by the government, such as public parks and national defense.
Collective Benefits
Advantages or positive outcomes that are shared by a group, community, or society from actions or policies, rather than by an individual alone.
Market Failure
Occurs when the allocation of goods and services by a free market is not efficient, often due to reasons like externalities, lack of public goods, or monopolies.
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