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The text discusses private solutions for resolving externalitiesusing the honey market. Among the reasons why the marketsolution works well in the honey market is the fact that:
Pruning
The horticultural practice of selectively removing parts of a plant, such as branches or stems, to improve its growth and health.
Degeneration
The process of decline or deterioration in structure or function, typically seen in cells, tissues, or organisms.
Cognition
The intellectual activity of obtaining insight and understanding by means of reflection, experiences, and sensory perception.
Perception
The process by which individuals interpret and organize sensation to produce a meaningful experience of the world.
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