Examlex

Solved

Achievement, Aptitude, and Intelligence Can Be Encompassed by the Term

question 39

Multiple Choice

Achievement, aptitude, and intelligence can be encompassed by the term


Definitions:

Market Equilibrium

The point in a market where the quantity demanded by consumers equals the quantity supplied by producers, resulting in a stable price.

Negative Externality

An adverse effect on a third party not directly involved in a transaction, which results from economic activity without compensation.

Negative Externality

A cost suffered by a third party due to an economic transaction, without compensation.

After-Tax Equilibrium

The balance reached in the market after accounting for the effects of taxes.

Related Questions