The Concept of External Cost Is Associated with a Negative

question 164

True/False

The concept of external cost is associated with a negative externality, but not with a positive externality.

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Definitions:

Social Goals

Objectives that aim to improve society's well-being, addressing issues like poverty, inequality, and environmental sustainability.

Economic Institution

An established organization or system that plays a role in the distribution and consumption of goods and services within an economy.

Social Responsibility Strategy

A company’s plan or approach to contributing positively to societal goals, through sustainable business practices and ethical contributions.

Denying Responsibility

The act of refusing to accept blame or accountability for one's actions or decisions, often deflecting onto others.