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May 15, 2024 

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REGULATORY POLICY: Government policy based on government's ability to pass laws and enact regulations.

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EXTERNALITY: A cost or benefit that is not included in the market price of a good because it's not included in the supply price or the demand price. Pollution is an example of an externality cost if producers aren't the ones who suffer from pollution damages. Education is an example of an externality benefit when members of society other than students benefit from a more educated population. Externality is one type of market failure that causes inefficiency.

     See also | opportunity cost | market | supply price | demand price | market failure | efficiency | pollution | materials balance | good types | Pigouvian tax | Coase theorem |


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EXTERNALITY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: May 15, 2024].


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RISK NEUTRALITY

A preference for risk in which a person is indifferent between guaranteed or certain income over risky income. Risk neutrality arises due to constant marginal utility of income. A risk neutral person has no preference for or against risk. This is one of three risk preferences. The other two are risk aversion and risk loving.

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APLS

BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a decorative windchime with plastic or a flower arrangement for that special day for your mother. Be on the lookout for letters from the Internal Revenue Service.
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More money is spent on gardening than on any other hobby.
"We succeed only as we identify in life, or in war, or in anything else, a single overriding objective, and make all other considerations bend to that one objective. "

-- President Dwight D. Eisenhower

MRS
Marginal Rate of Substitution
A PEDestrian's Guide
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