Examlex
Why might poor countries submit to structural adjustment rather than forego World Bank and IMF loans?
Pareto Optimal
A circumstance in resource distribution where an improvement for one individual correlates with a setback for another.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning their consumption by one individual does not reduce availability to others.
Private Consumption
The total value of all goods and services consumed by individuals and households for personal use.
Pareto Efficient
A resource distribution condition where no reallocation can improve one person's situation without detrimentally affecting another person's situation.
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