Examlex
A spherical cluster of several hundred galaxies is found to contain far more ellipticals than spirals and irregulars.How would you classify this cluster?
Private Value
The value of a good or service to an individual buyer or seller which is independent of the market price or the value others might derive from it.
Externalities
Results of business activities on external entities not considered in the product or service's price.
Cars And Trucks
General categories of motor vehicles primarily used for transportation of people (cars) and goods (trucks).
Socially-Optimal Quantity
The level of production and consumption that achieves the largest possible economic efficiency, taking into account the external effects on society.
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