Examlex
Match the term with the definition.
-Union fort on an island at the entrance to Charleston harbor in South Carolina. After Confederate leaders learned President Lincoln intended to resupply the fort, Confederate forces attacked it on April 12, 1861, thus marking the start of the Civil War.
Positive Externality
A positive outcome experienced by a person who did not intentionally seek out that advantage, frequently tied to public goods or services.
New Technologies
Innovations and advancements in technology that create new products, processes, or methods, often leading to enhanced efficiency or productivity.
Socially-Optimal Quantity
The level of production or consumption of a good that leads to the maximum welfare for society, considering both benefits and costs.
Market-Equilibrium
A state where the quantity of goods supplied equals the quantity of goods demanded, resulting in a stable price.
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