Examlex
Explain the ways that legislators can choose to represent their districts. Which of these do you feel like is the best mode of representation?
External Benefits
Advantages that result from a product or service's use that affect someone other than the direct consumer or producer, often justifying government intervention.
Consumption
The process by which goods and services are used by households and individuals, leading to a decrease in their availability.
Negative Externalities
Negative effects or costs that are incurred by third parties as a result of economic activities, for which they are not compensated, such as pollution.
Equilibrium
Equilibrium represents a state of balance where there is no net tendency for change, often used to describe the point at which market supply and demand balances each other.
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