If the Social Costs of an Economic Activity Are $120

question 30

Multiple Choice

If the social costs of an economic activity are $120 and the private costs are $75,then the external costs of the activity are ________,and market failure ________.

• A)$195;does not occur
• B)$45;does not occur
• C)$195;occurs
• D)$45;occurs

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Definitions:

Completing College

Completing College refers to the process and achievement of finishing a college degree or program, signifying the end of formal undergraduate or graduate education.

Clerical/Sales

Occupations that involve office administrative duties or the selling of goods and services, often requiring interaction with customers.

Conflict Perspective

is a theoretical framework in sociology that views social life as a competition, focusing on the struggles between groups for power and scarce resources.

Stratification System

The hierarchical arrangement of individuals and groups in societies based on wealth, power, race, education, ethnicity, or other social distinctions, influencing access to resources and opportunities.