Describe the Difference Between an Internal Failure Cost and an External

question 2

Essay

Describe the difference between an internal failure cost and an external failure cost. Give an example of each.

---

Definitions:

Capitalism Support

Advocacy or backing for an economic system where trade, industry, and the means of production are largely or entirely privately owned and operated for profit.

Federal Elections

Elections held to choose representatives or leaders at the federal level of government, involving the selection of officials for national offices such as president, congress, or parliament.

Women

Adult human females, often discussed in contexts related to gender-specific issues, rights, and roles in society.

Canada

A North American country consisting of ten provinces and three territories, known for its vast landscapes, multicultural diversity, and as a member of the Commonwealth.