Instructions: Identify the Following

question 92

Essay

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
William Penn and the Quakers (Society of Friends)

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Definitions:

Negative Externalities

Unintended and unfavourable outcomes or costs imposed on a third party not involved in a transaction or activity.

Taxes

Compulsory financial charges or some other type of levy imposed upon a taxpayer by a governmental organization.

Positive Externality

A benefit that affects a party who did not choose to incur that benefit, often leading to underproduction of the good or service in absence of intervention.

Education

The systematic process of facilitating learning, acquiring knowledge, skills, values, and attitudes.