An Economic Activity in Which Benefits or Costs Affect Third

question 17

Multiple Choice

An economic activity in which benefits or costs affect third parties is called

• A) a public good.
• B) a third-party good.
• C) the exclusion principle.
• D) an externality.

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Definitions:

Mega-Discount Chain

A large-scale retail store or series of stores offering significant discounts on a wide range of merchandise to attract a broad customer base.

Cluster Sampling

A sampling technique where the population is divided into clusters, and a sample of these clusters is then selected for analysis.

Education Researcher

An individual specializing in studying, evaluating, and improving educational systems, methods, policies, and outcomes.

Stratified Sampling

A sampling method that divides the population into smaller groups, or strata, to ensure representation of significant subpopulations in the sample.