A Positive Externality Arises When a Person Engages in an Activity

question 220

Multiple Choice

A positive externality arises when a person engages in an activity that has

• A)an adverse effect on a bystander who is not compensated by the person who causes the effect.
• B)an adverse effect on a bystander who is compensated by the person who causes the effect.
• C)a beneficial effect on a bystander who pays the person who causes the effect.
• D)a beneficial effect on a bystander who does not pay the person who causes the effect.

Understand the geological processes involved in shaping Earth's surface over time.

Identify the factors that influence elevation changes in different regions.

Explain the role of plate tectonics in the formation of geological features.

Recognize the concept of subduction zones and their impact on crustal features.

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Definitions:

Direct Labor

The cost of wages for employees directly involved in the production of goods or services.

Process Costing System

A costing method used in industries where production is continuous and units are indistinguishable from each other, allocating costs to units of product based on the process they go through.

Work In Process Accounts

Accounts used to track the costs of unfinished goods in production processes at any point in time.

Process Cost System

An accounting method used to allocate costs to products that are produced in continuous processes or batches.