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Based on the symbolic interactionist theory of sociologists Charles H. Cooley and George H. Mead, the ___________theory states that deviance is a socially constructed process in which social control agencies designate certain people as deviants, and they, in turn, come to accept the marker placed upon them and begin to act accordingly.
Negative Externalities
Costs suffered by a third party as a result of an economic transaction which the parties directly involved in the transaction do not fully account for.
Public Good
A product that one individual can consume without reducing its availability to another individual and from which no one is excluded.
Marginal Benefit
The incremental utility or satisfaction derived from the consumption or production of an additional good or service unit.
Marginal Cost
The increment in comprehensive expenses related to the generation of an extra unit of a good or service.
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