Examlex
It is possible to think of the turn towards civil society as a form of privatization.
External Benefits
Positive effects experienced by those not directly involved in an economic transaction.
Efficient Equilibrium
A state in which resources are allocated in the most efficient manner, leaving no potential for reallocating resources to make someone better off without making someone else worse off.
Government
A system or group of people governing an organized community, often a state, and set policies, laws, and regulations.
Private Markets
Markets where transactions occur directly between parties without significant regulatory oversight, often avoiding public exchanges.
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