Many External Costs Occur Because

question 30

Multiple Choice

Many external costs occur because

• A) people do not pay the true cost of using a resource.
• B) people do not pay the private cost of using a resource.
• C) companies do not pay the market price for natural resources.
• D) companies pay more than the true cost of using a resource.

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Definitions:

Command-And-Control

A management style that emphasizes strict authority and obedience, often seen in hierarchical organizations.

Government

The system by which a state or community is controlled or regulated, typically consisting of legislature, executive, and judiciary branches.

Regulators

Authorities or agencies responsible for overseeing and enforcing compliance with laws, rules, or regulations in various fields.

Sustainability

The ability to maintain or improve certain processes or states indefinitely, often referring to environmental, economic, and social well-being.