Examlex
Discuss the advantages and disadvantages of online retailing.
Socially Optimal
A state or outcome that maximizes the overall welfare or benefit to society, often considered in economics and game theory to balance individual and collective interests.
Gasoline
A volatile, flammable liquid derived from petroleum, used primarily as fuel in spark-ignited internal combustion engines.
Negative Externality
A cost that is suffered by a third party due to an economic transaction or activity.
Production
The act of merging diverse physical and non-physical inputs (including blueprints and skills) to produce goods for consumption.
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