The Term _______ Refers to a Market Exchange That Affects

question 73

Multiple Choice

The term _______ refers to a market exchange that affects a third party who is outside or external to the exchange.

• A) social costs
• B) spillover
• C) market failure
• D) private costs

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Definitions:

Stanford-Binet IQ

A standardized test that assesses intelligence and cognitive abilities, forming a basis for an intelligence quotient (IQ) score.

Intelligent

Having or showing the ability to easily learn or understand things or to deal with new or difficult situations.

Howard Gardner

An American developmental psychologist best known for his theory of multiple intelligences, which suggests that people have various kinds of intelligence strengths.

Robert Sternberg

An American psychologist best known for his theory on intelligence and creativity, including the triarchic theory of intelligence.