Examlex
Because of a _____ externality, marginal social benefit is greater than marginal private benefit.
Close Substitutes
Goods or services that can easily replace each other in consumption due to their similar characteristics.
Families' Budgets
Financial plans created by families to manage their income, expenses, savings, and investments over a specific period.
Demand Elastic
A measure of how much the quantity demanded of a good responds to a change in the price of that good, with high elasticity indicating a significant response.
Demand Inelastic
Describes a situation where the quantity demanded of a good or service is relatively unaffected by changes in its price.
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