The Term Externalities Refers to

question 49

Multiple Choice

The term externalities refers to

• A)regulations imposed on a firm by government.
• B)a nation that is a trading partner of another nation.
• C)unpaid costs of production that are incurred by society.
• D)tariffs imposed on American goods exported to other countries.
• E)None of these answers is correct.

---

Definitions:

Automation

The technology by which a process or procedure is performed without human assistance.

Low-Cost Leadership

A competitive strategy where a company becomes the most cost-efficient producer in its industry, often allowing for lower pricing to customers.

Chemical Waste

Waste that is made from harmful chemicals and is often a by-product of manufacturing processes, laboratory experiments, and cleanup operations.

Research and Development

The iterative process of systematic work aimed at increasing knowledge to develop new products or improve existing ones.