Final answer:
Weak Entities and Owner situation exist in data models where the existence of a weak entity relies on an owner entity. This relationship is key in understanding how data is organized in databases and is reflected in scenarios such as university databases where classes depend on departments.
Step-by-step explanation:
Weak Entities and Owner situation exist when there are entities in a data model that cannot exist without being associated with another entity, which is often referred to as the owner. This relationship implies that the weak entity is dependent on the owner for its existence.
For example, consider a scenario involving a database for a university. In this database, a class might be a weak entity that cannot exist without being related to a department, which would be the owner entity. In this relationship, a class is dependent on a department to give it context and meaning, illustrating how the concept of weak entities and owners is applied.
Problems arise when there are challenges such as the inability of resources to move to other markets, or when there are externalities, which can be unintended side-effects of a transaction that are either positive or negative. These factors can impact the efficiency and function of the entities involved and the broader system in which they operate.