Externalities Are Defined As

question 108

Multiple Choice

Externalities are defined as:

• A)any transaction external to the firm.
• B)costs or benefits that fall on third parties.
• C)policies that firms adopt to sell products outside the country.
• D)managers' dealings with stockholders outside the firm.
• E)costs of maintaining plant and equipment to avoid the scrutiny of external auditors.

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Definitions:

Chromic Acid

A powerful oxidizing agent made from mixing chromium trioxide or sodium dichromate with sulfuric acid, used in cleaning laboratory glassware and oxidizing organic compounds.

Oxidation

A chemical process involving the loss of electrons or an increase in oxidation state by a molecule, atom, or ion.

Chromium

A chemical element with symbol Cr and atomic number 24, known for its high corrosion resistance and hardness.

Organic Product

Compounds primarily composed of carbon atoms, resulting from the synthesis in organic chemistry.