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Submarine canyons:
Efficient Allocation
The distribution of resources in a way that maximizes the net benefit to society or achieves a desired outcome effectively.
Equitable Allocation
The fair and just distribution of resources among different groups or individuals.
Gains From Trade
The increase in utility or welfare that countries or individuals can achieve by specializing in the production of goods they are relatively more efficient at and exchanging them.
Decisions At Margin
The process of making decisions based on the additional benefit or cost of one more unit of change rather than on a total or average outcome.
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