It Is True of Externalities That They

question 68

Multiple Choice

It is true of externalities that they

• A)are always detrimental.
• B)are always beneficial.
• C)arise when all costs, social and private, are included in production cost.
• D)cause the price system to misallocate resources.

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Definitions:

Cultural Differences

Variations in the norms, values, beliefs, and practices among people from different backgrounds or communities.

Subjectivity

The quality of being based on or influenced by personal feelings, tastes, or opinions rather than external facts.

Subordinate Satisfaction

The level of contentment, motivation, and engagement experienced by employees towards their work and the workplace hierarchy.

Unit Performance

A measure of the effectiveness, efficiency, and quality of outputs produced by a specific department or team within an organization.