A Cost That Arises from the Production of a Good

question 19

Multiple Choice

A cost that arises from the production of a good that is paid by someone who did not participate in the production is called

• A) a free rider.
• B) a public failure.
• C) an externality.
• D) rent seeking.

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Definitions:

Stakeholders

Individuals or entities that have an interest or stake in the success and operations of a business, including employees, customers, investors, and suppliers.

Mass Production Technologies

Techniques and tools used in the production of large quantities of standardized products, typically utilizing assembly lines and automation to achieve high efficiency and lower costs.

Human Resource Management

The strategic approach to the effective management of people in an organization, focusing on maximizing employee performance.

Factory Jobs

Positions or employment opportunities within manufacturing plants or production facilities, often involving manual labor or operating machinery.