Examlex
If a cast-iron boiler is significantly oversized and experiences long off-times between firing cycles, much of the heat stored in the boiler's thermal mass can be carried up the flue by air currents passing through the combustion chamber.
Government
The governing body of a nation, state, or community which creates and enforces laws, manages public resources, and regulates societal functions.
Government Intervention
Actions taken by a government to affect or interfere with market activities or uphold laws for economic or social outcomes.
Markets Fail
Occurs when a market economy does not efficiently allocate resources, leading to outcomes like monopolies, public goods issues, or externalities.
Efficient Allocation
The distribution of resources in a way that maximizes the net benefits to society or the economy.
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