Examlex
The nature of patrol today,compared to its character in previous decades,is best captured by the phrase
Government
An organized system that establishes and enforces rules and institutions to govern a community, region, or country.
Firms
Business entities that produce goods or provide services to consumers, aiming to maximize profits.
Pigouvian Taxes
Taxes imposed on any market activity that generates negative externalities (costs not reflected in the market price) to correct the market outcome.
External Costs
Costs that are not borne by the producers or users of a product or service, but by society or the environment.
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