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Social Benefits
The advantages or positive effects that an action or policy has on society as a whole, including things like improved health, education, and welfare.
Private Benefits
The gains or advantages that accrue directly to an individual or firm from an economic transaction or activity, not affecting others not involved in the transaction.
Negative Externality
A cost that affects a party who did not choose to incur that cost, often associated with production or consumption of goods and services.
Property Value
The market worth of real estate, influenced by factors such as location, amenities, and the condition of the property.
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