Examlex
When an electron in an atom makes a transition from n = 4 to n = 5,which of the following statements is/are correct?
I.Energy is emitted.
II.Energy is absorbed.
III.The electron loses energy.
IV.The electron gains energy.
V.The electron cannot make this transition.
Market Failure
A scenario in which the distribution of goods and services through an unregulated market leads to inefficiencies, resulting in a decrease in overall social welfare.
Lost Surplus
Refers to the welfare that is lost to consumers or producers due to market inefficiencies or interventions, such as taxes or price ceilings.
Public Good
A product that one individual can consume without reducing its availability to another individual and from which no one is excluded.
National Defense
The government functions and mechanisms aimed at protecting a country against external aggression, threats, and maintaining sovereignty.
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