An Externality Is Defined as

question 223

Multiple Choice

An externality is defined as

• A)an opportunity cost that is not considered, which causes inefficiency.
• B)a social cost that affects parties external to a transaction.
• C)a transaction that imposes a loss on one of the parties involved.
• D)a "cost of doing business" that cannot be allocated to any particular good.
• E)the increase in cost associated with increased production.

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Definitions:

Mandatory Reporter

An individual required by law to report any suspected cases of child abuse or neglect.

Abuse Records

Official documentation or reports that detail instances of abuse, whether physical, emotional, sexual, or verbal.

Confidentiality

The practice of keeping personal or sensitive information private and secure, especially in professional settings.

Organization Policies

Guidelines, rules, and procedures established by an organization to govern its operations and decision-making processes.