Examlex
A member of a rock band has become concerned with whether or not the band's music is contributing to deafness among members of the audience.Which factor should be of most concern?
Positive Externalities
Benefits that are enjoyed by a third-party or the broader society as a result of an economic transaction or activity, without them directly participating in it.
Public Good
A good or service that is characterized by nonrivalry and nonexcludability. These characteristics typically imply that no private firm can break even when attempting to provide such products. As a result, they are often provided by governments, who pay for them using general tax revenues.
Federal Government
The national government of a federated state, which shares sovereignty with its subnational entities and is typically responsible for national defense, foreign affairs, and federal law.
Marginal Benefit
The increase in satisfaction or utility that a person receives from consuming an additional unit of a good or service.
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