Examlex
Global warming would be a greater immediate problem in the Netherlands than in Denver,Colorado.
Public Good
An item or service that is available for all individuals to consume, regardless of who pays for it, characterized by its non-excludability and non-rivalry.
Market Demand
The overall amount of a product or service that every consumer in a market is ready and capable of buying at different price levels.
Negative Externalities
Unintended and uncompensated costs imposed by one party's actions on others not involved in the transaction.
Efficiency Loss
The loss of economic efficiency that can occur when the balance between supply and demand is not achieved, leading to potential welfare loss.
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