Examlex
The functional roles individual group members assume in small-group interactions are:
Socially Optimal Quantity
Socially Optimal Quantity is the level of production or consumption of a good or service that results in the maximum possible economic efficiency and welfare, taking into account all social costs and benefits.
External Benefit
A positive effect or advantage that results from a product or service's use, extending beyond the direct buyer or consumer to others not involved in the transaction.
Output
The cumulative production of goods and services by an economy over a given time frame.
External Cost
Costs of a transaction or activity that affect people other than those directly involved in the transaction, often not reflected in the market prices.
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