Examlex
A smartphone is a _____ with additional features such as a camera;Internet connectivity;note taking capabilities;GPS capabilities;and digital music and video players.
External Costs
Costs of an economic activity that are not borne by the participants but rather by other people or society at large.
Tax
A compulsory financial charge imposed by a government on individuals or entities to fund various public expenditures.
Marginal Social Benefit
An additional gain to society derived from consuming or producing another unit of a good or service.
Marginal Social Cost
An increased charge to the general public for the creation of one more unit of a product or service.
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