Negative Externalities Are the Additional Costs Incurred by Business Due

question 64

True/False

Negative externalities are the additional costs incurred by business due to the outside regulations placed by goverrunent.

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Definitions:

Autarky

An economic policy or situation in which a country is self-sufficient and does not engage in international trade.

Cattle

Large domesticated bovines raised for their meat, milk, or hides, but in economic context, it broadly relates to agricultural commodities.

Opportunity Cost

The expense incurred by not selecting the second-best choice while deciding or preferring one option to another.

Cars

Motor vehicles with four wheels, primarily used for transporting people rather than goods.