Examlex
Alpha testing occurs when programmers test the system to ensure it is bug-free.
Adverse Selection
A situation in insurance and finance where individuals with higher risks are more likely to purchase or participate in a plan, leading to higher than expected costs for insurers or lenders.
Marginal Benefit
The extra utility or satisfaction obtained through the consumption of an additional unit of a good or service.
Pollution Abatement
Actions or measures taken to reduce, control, or eliminate pollution from various sources.
Producer Surplus
The difference between the actual price a producer receives (or producers receive) and the minimum acceptable price; the triangular area above the supply curve and below the market price.
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