Examlex
A networking approach where many control functions for managing the movement of data on a network are managed by a central program separately from the network itself is known as:
Socially Optimal
The point at which the benefits to society of an action, policy, or project, are maximized, taking into account all costs and benefits.
MSB and MSC
Marginal Social Benefit (MSB) and Marginal Social Cost (MSC) refer to the additional benefit or cost to society of producing one more unit of a good or service.
Pollution
The introduction of contaminants into the natural environment, causing adverse changes and harm to ecosystems and human health.
Market Economy
A market mechanism where investment, production, and distribution decisions are informed by supply and demand forces, with the prices of goods and services set within an open pricing system.
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