Externalities Measure

question 16

Multiple Choice

Externalities measure

• A)Only costs of a market activity borne by a third party.
• B)Only benefits of a market activity borne by a third party.
• C)Either costs or benefits of a market activity borne by a third party.
• D)None of the choices are correct.

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Definitions:

Algorithms

Step-by-step procedures or formulas for solving a problem or completing a task.

Dwellings

Places where people live, such as houses, apartments, and other residential structures.

Mental Set

A tendency to approach problems in a particular way, often based on past experiences, which may limit the ability to find solutions.

Noncompensatory Modeling

Noncompensatory Modeling is a decision-making strategy where alternatives are evaluated on key criteria, and an option is selected without making trade-offs among these criteria.