Examlex
The team is using a PDSA cycle to test a proposed change to conduct an in depth analysis of data with comparison to the predictions. In which step of the cycle is this team working?
Internalize the Externality
The process whereby parties take into account the external costs or benefits of their actions, often through regulatory or market-based mechanisms.
Tragedy of the Commons
A situation in a shared-resource system where individual users acting independently according to their own self-interest behave contrary to the common good of all users by depleting or spoiling that resource.
Excludable
A characteristic of a good or service that means it can be restricted to only those who pay for it; the opposite of a public or non-excludable good.
Rival in Consumption
A characteristic of goods where one individual's consumption prevents or decreases others' ability to consume the same good.
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