A Cost Imposed on Someone Who Is Neither the Consumer

question 467

Multiple Choice

A cost imposed on someone who is neither the consumer nor the producer is called a

• A)corrective tax.
• B)command and control policy.
• C)positive externality.
• D)negative externality.

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Definitions:

Writing

The process of using symbols (letters of the alphabet, punctuation and spaces) to communicate thoughts or ideas in a readable form.

Common Law

A legal system based on precedent and jurisprudence, where the decisions of courts have significant weight in the interpretation of laws.

Ucc

UCC stands for Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.

Consumer Lease

A contractual agreement where a lessee (consumer) agrees to rent personal property for personal, family, or household purposes for a fixed period or indefinitely.