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Marcellus behaved in a reckless and irresponsible way, resulting in significant damage to Carmella's property. However, it is clear that Marcellus didn't actually intend to do the damage. Marcellus has refused to pay for repairs. Since the damage was unintentional, Carmella cannot successfully sue Marcellus to recover the loss.
Private Enterprise
Businesses or economic activities owned and managed by individual private owners rather than by the state.
Former Soviet Union
The socialist state that existed from 1922 to 1991, comprised of Russia and several other republics, which disbanded, leading to the formation of independent countries.
Externalities
Economic side effects or consequences of commercial activities that affect other parties without being reflected in the cost of the goods or services involved.
Market Failure
A less than efficient allocation of resources.
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