externality
131Public bad — A public bad, in green economics, is a good that produces socially undesirable results. Examples: * Pollution is the most obvious example. There are less obvious examples. * A public golf course could be seen as a public good insofar as it… …
132Economic equilibrium — Price of market balance: P price Q quantity of good S supply D demand P0 price of market balance A surplus of demand when P<P0 B surplus of supply when P>P0 In economics, economic equilibrium is a state of the world where economic forces… …
