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10 cards from this deck
Good where social benefits exceed private benefits
Good where social costs exceed private costs
Private benefit + External benefit
Private cost + External cost
Under-consumption (below socially optimal level)
Over-consumption (above socially optimal level)
Subsidy to lower price and increase consumption
Indirect tax to raise price and reduce consumption
People focus on short-term, ignore long-term consequences
Essential for classifying goods as merit or demerit
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