28 Oct 2021
Problem 12
Page 294
Section SELF: CHECK QUESTIONS
Chapter 12: Environmental Protection and Negative Externalities
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28 Oct 2021
Introduction
Economy as a whole consists of two different groups, which are firms and households. Both the groups interact with each other differently in two different markets, which are labor market and goods and services market. In services and goods market, households are the buyers and firms are sellers, whereas in the labor market households sell their labor to firms, businesses or other employees.
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