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Due in large part to the theorizing of John Dewey,where did school systems in the early part of the twentieth century in North America place more emphasis?
Social Optimum
The ideal state of resource allocation in which society's overall welfare is maximized, balancing efficiency and equity among individuals.
Market Equilibrium
The point in a market where the quantity demanded by consumers equals the quantity supplied by producers, resulting in a stable price.
Negative Externality
An adverse effect on a third party not directly involved in a transaction, which results from economic activity without compensation.
Negative Externality
A cost suffered by a third party due to an economic transaction, without compensation.
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