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Below the skin are "stem cells" that divide, with some cells continuing the stem cell line and others being pushed toward the surface to flatten and die and be sloughed off. In the bone marrow other stem cells produce erythrocytes that lose their nucleus and function for a few months in the bloodstream before they too die. Such "dead end" cells that reproduce no further
Negative Production Externality
An economic situation where the production process results in a harmful effect on third parties or the environment, which is not reflected in the cost of production.
Positive Production Externality
A situation where the production of a good or service results in beneficial effects for other people or entities that were not involved in the transaction.
Public Good
A good that is non-excludable and non-rivalrous, meaning it can be consumed by anyone without reducing its availability to others.
Marginal Revenue
The additional revenue generated from selling one more unit of a good or service.
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