Discuss the Concept of Fundamental Law and How National and State

question 58

Essay

Discuss the concept of fundamental law and how national and state constitutions are related to this principle.

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Definitions:

Positive Externalities

Benefits that result from a commercial activity or action but affect uninvolved third parties who did not choose to be involved in the transaction.

Spillover Benefits

Positive effects or advantages that result from a product, event, or activity, affecting those who are not directly involved.

Price

The total funds necessary to acquire a commodity, service, or asset.

Output

The amount of goods or services produced by a business, industry, or economy.