When External Benefits Are Present

question 43

Multiple Choice

When external benefits are present,

• A) property rights have already been established.
• B) competitive markets are efficient.
• C) competitive markets are inefficient.
• D) a tax is required to eliminate the inefficiency.

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Definitions:

Receive Payments

The act of accepting monetary transactions from clients as compensation for provided services or products sold.

QBB File

A backup file format used by QuickBooks software to create secure copies of all accounting data, essential for data recovery and maintaining the integrity of financial records.

QuickBooks

An accounting software package developed and marketed by Intuit, designed for small and medium-sized businesses.

Compressed File

A file that has been reduced in size through compression algorithms, facilitating easier storage and transfer.