Examlex
The method of managerial judgement in determining the cost behavior uses:
Externality
An outcome from economic actions affecting external third parties not related to the activity, which could be either advantageous or detrimental.
Market
A system or an area where buyers and sellers interact to trade goods, services, or financial instruments.
Positive Externality
A benefit gained by a third party not directly involved in a transaction or activity, where the social or economic gain is not reflected in the market price.
Social Planner
A theoretical decision-maker in economics who aims to achieve optimal outcomes for society by considering the allocation of resources and distribution of goods and services.
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