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Log consolidation is useful for
Market Failure
Occurs when the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.
Resource Extraction
The process of retrieving natural resources from the earth, such as minerals, oil, and gas, for human use.
Weak Property Rights
A situation where the legal protections and enforcement mechanisms for ensuring ownership and control over property are inadequate or not effectively implemented.
Renewable Resources
Natural resources that can be replenished naturally over time, such as sunlight, wind, and water.
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