Examlex
Soil moisture that plants are capable of accessing and using is called
Positive Externalities
Benefits that are enjoyed by third-parties as a result of an economic transaction or activity, without them directly participating in the transaction.
Pigouvian Tax
A tax imposed on activities that generate negative externalities, aimed at correcting an inefficient market outcome.
Marginal Social Benefits
The incremental benefit the public receives from consuming an additional unit of a good or service.
Marginal Private Benefits
The additional benefits received by an individual or firm from consuming or producing one extra unit of a good, not considering external effects.
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