Examlex
The social bond that refers to the level of activity in conventional things is called___________
.
External Cost
An external cost, or negative externality, refers to a cost that a transaction or activity imposes on parties who are not involved in the transaction, such as pollution affecting non-participants.
Positive Externality
A benefit that affects someone who did not choose to incur that benefit, often leading to an under-provision of a good or service.
Vaccination
A medical intervention that introduces a substance to stimulate the body's immune response against disease.
Producer Surplus
The discrepancy between what sellers are prepared to take for a product or service and the actual payment they get in the marketplace.
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