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Where would we most expect to find unsupervised children?
Social Planner
A theoretical decision-maker in economics who aims to achieve optimal outcomes for society by considering the allocation of resources and distribution of goods and services.
Subsidy
A payment made by the government to a firm, industry, or individual, usually to encourage the production of a certain good or service or to reduce its price for consumers.
Output
The quantity of goods or services produced in a given time period, by a firm, industry, or country.
Internalized
The process of incorporating external costs or benefits into one's own decision-making criteria.
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