Examlex
Which of the following describes the ways that bodies, ideas, and technologies are hooked up in relationship to one another?
Producer Surplus
The difference between the amount that producers are willing to accept for a good or service and the actual amount they receive in the market.
Externality
A cost or benefit from production or consumption that accrues to someone other than the immediate buyers and sellers of the product being produced or consumed (see negative externality and positive externality).
Third Party
An individual or group besides the two primarily involved in a transaction or legal matter, sometimes involved as an intermediary or independent party.
Transaction
An exchange or transfer of goods, services, or funds between two or more parties.
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