Order the answer to: Define the following terms: a. Externality b. Public good c. Ratchet Explain the applicability

Academic Help business-economics Order the answer to: Define the following terms: a. Externality b. Public good c. Ratchet Explain the applicability

business-economics

Order the answer to: Define the following terms: a. Externality b. Public good c. Ratchet Explain the applicability

Question Define the following terms:
a. Externality
b. Public good
c. Ratchet
Explain the applicability of these concepts to the innovative economy.
Subject business-economics
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