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Which unit of charge contains
Production
The process of creating goods and services through the combination of labor, materials, and capital.
Coase Theorem
A principle that if trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of rights.
Free-Rider Problem
A situation where some individuals consume more than their fair share of a public resource, or shoulder less of the cost of its production.
Public Good
A good that is both non-excludable and non-rivalrous, meaning individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.
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