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The Phenomenon of Modeling Is Usually Associated with the

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The phenomenon of modeling is usually associated with the


Definitions:

External Cost

Costs that result from economic activities and are not reflected in market prices, often borne by a third party or society at large.

Mixed Economies

Economic systems that combine elements of both capitalism and socialism, featuring a blend of government intervention and private enterprise.

Marx

Karl Marx, a 19th-century philosopher and economist known for his ideas about capitalism and communism.

Capitalism

A system of economy where the means for producing goods and services are privately owned, with the goal of generating profit.

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