Examlex
What is the abbreviation of the structure shown below?
True Cost
Encompasses all the economic, environmental, and social costs associated with the production and consumption of a good or service.
Resource
Raw materials, labor, capital, and other inputs used in the production of goods and services.
External Benefits
Benefits of a good or service that are not captured by the market price and are received by third parties.
Competitive Market
A market structure characterized by many buyers and sellers, free entry and exit, and products that are similar but differentiated.
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