Examlex
It is believed that __________ tend to reduce the anxiety connected with obsessions.
Market Failure
Situation in which an unregulated competitive market is inefficient because prices fail to provide proper signals to consumers and producers.
Incomplete Information
A situation in economics where all parties in a transaction do not have full and equal knowledge.
Externalities
Economic side effects or by-products that affect an uninvolved third party; can be positive or negative, such as pollution or public parks.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning they are accessible to all members of society and one person's consumption does not reduce availability to others.
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