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Ynez has just learned her partner has gonorrhea. Ynez . . .
Negative External Effects
Negative impacts of an economic activity on third parties who are not directly involved in the transaction.
Efficient Outcome
A situation where resources are allocated in the most effective manner, maximizing benefits and minimizing waste.
Lawsuit
A legal action brought in a court by a plaintiff against a defendant, typically seeking compensation for some form of harm or enforcement of a right.
Common Property Resource
Resource to which anyone has free access.
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