Which of the Following Definitions Is Circular

question 32

Multiple Choice

Which of the following definitions is circular?

• A)near: having the property of being only a small distance away
• B)swimming: propelling oneself through water through controlled movement of one's appendages
• C)apex: a zenith or pinnacle
• D)enteritis: swelling of the small intestine
• E)couch: a piece of furniture designed for seating more than one person at a time

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Definitions:

Negative Externality

A cost that affects a party who did not choose to incur that cost, typically resulting from economic activity by another party.

Marginal Social Cost

The total cost to society of producing an additional unit of a good or service, including both private costs and external effects.

External Social Cost

Costs of production or consumption that affect individuals not involved in the transaction, often unaccounted for by the market price.

Efficient Level

Describes a state where resources are allocated in the most effective manner, maximizing output and outcomes.