Examlex
Explain how diet and nutrition can impact human growth at every stage of the life cycle.
Externalities
Unintended financial outcomes affecting individuals not directly engaged, potentially leading to good or bad impacts.
External Costs
Costs that are not borne by the producer or consumer of a good or service, but by society or the environment.
MSC (Marginal Social Cost)
The total cost to society of producing an additional unit of a good or service, including both the private costs and any external costs.
Efficient Level
Refers to the point at which a system, process, or economy operates at maximum productivity with minimal waste and expense.
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