Examlex
Lakes lying in granite basins,such as those in the northeastern U.S.,tend to become acidified by acid rain more readily than lakes lying in limestone basins,such as those found in the midwestern U.S.Why is this so?
Spillover Cost
A cost incurred by someone who is not a direct participant in a transaction, often referring to negative externalities resulting from economic activities.
Allocative Efficiency
occurs when resources are distributed in a manner that results in the optimal combination of goods and services produced to match consumer preferences.
Productive Efficiency
The production of a good in the least costly way; occurs when production takes place at the output level at which per-unit production costs are minimized.
Marginal Cost
The charge of crafting one more unit of a product or service.
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