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Application of Skills Directions:
Apply the knowledge you have gained from Chapter 21 to choose the best answer to complete the following sentences.
Jake doesn't need another general education course _____ he is taking a science class instead.
Negative Externality
A cost that affects a party who did not choose to incur that cost, often associated with production or consumption of goods and services.
Corporate Jet
A private aircraft owned or leased by a company for the transportation of its executives, employees, or clients.
Automobile Manufacturer
A company that engages in the design, production, marketing, and selling of motor vehicles.
Market Prices
The prevailing rates at which goods and services are traded in the market, determined by supply and demand.
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