When the External Benefits in a Market Are Taken into Account

question 30

True/False

When the external benefits in a market are taken into account, the good's price is higher and the amount bought and sold is greater.

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Definitions:

Duty of Care

A legal obligation requiring individuals and entities to exercise a reasonable standard of care to avoid causing harm to others.

Positive Net Worth

The financial status where total assets exceed total liabilities.

Obvious Theft

A situation where an act of stealing is clear and unmistakable to any observer.

Audit

A systematic examination and verification of a company's financial records, performance, or compliance with legal requirements.