What Are External Benefits

question 51

Multiple Choice

What are external benefits?

• A)The benefits that are enjoyed by people other than the producers or consumers of a product.
• B)The benefits that are enjoyed by outside workers.
• C)The benefits that are obtained from importing products from abroad.
• D)The benefits that a firm obtains from opening up plants abroad.

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Definitions:

Conditional Contract

An agreement where the obligations or terms are only to be fulfilled if certain conditions are met.

Condition Concurrent

A situation in a contract wherein the parties involved must perform their respective obligations at the same time.

Washing

Typically refers to cleaning something by immersing and agitating it in water or another liquid.

Conditional Contract

An agreement that becomes enforceable only after certain conditions are met or fulfilled.