Examlex
Why are gender expectations an example of social structure?
Efficient
The optimal use of resources to achieve the desired output with minimal waste, or achieving a goal in the most cost-effective way.
MSB = MSC
A condition where the Marginal Social Benefit of consuming a good equals the Marginal Social Cost of producing it, representing an optimal allocation of resources.
Public Park
A plot of land, usually owned by a government, open to the public for recreation and relaxation, without an entrance fee.
Positive Externality
A benefit received by third parties not directly involved in an economic transaction, like the environmental benefits from a public park.
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