When Individuals Take External Costs and Benefits into Account

question 147

Multiple Choice

When individuals take external costs and benefits into account:

• A)there are no external costs.
• B)they internalize the externality.
• C)the government should intervene in the market.
• D)the market will not reach an efficient solution.

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Definitions:

Contingency Workers

Employees who are hired on a temporary basis or for specific projects rather than being permanent staff.

Part-Time

A type of employment status where the worker is employed for fewer hours per week than a full-time employee, often offering flexible schedules.

Temporary Basis

A condition or situation that is not permanent and is expected to change or end after a certain period.

Regular Workforce

Describes the employees who work under standard employment contracts with predictable hours and benefits, as opposed to temporary or freelance workers.