Examlex
Which model specifically addresses the situation in which the quality of one kind of habitat can be altered by conditions in adjacent habitats?
Socially Optimum
A condition or state in which resources are allocated in the most efficient manner from the perspective of the society overall, maximizing social welfare.
Public Park
An area of land, usually owned and maintained by government agencies, designated for public use and enjoyment, often featuring natural or landscaped spaces.
Pigouvian Subsidy
A subsidy on goods or services that have positive externalities, aimed at encouraging activities that are beneficial for society.
External Benefits
The positive effects or advantageous consequences of a product or service that are enjoyed by individuals or groups who did not directly purchase or consume the product or service.
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