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When Negative Externalities Are Present in a Market

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When negative externalities are present in a market


Definitions:

Verbal

Relating to words and language, including spoken, written, and understood communication.

Private Speech

Talking aloud to oneself with no intent to communicate with others.

Egocentrism

A cognitive characteristic of young children's thought, where they have difficulty understanding perspectives other than their own.

Piaget

Refers to Jean Piaget, a Swiss psychologist known for his pioneering work in the study of child development and his theory of cognitive development.

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