When There Is a Cost or Benefit That Affects Someone

question 321

Multiple Choice

When there is a cost or benefit that affects someone other than the seller and buyer,then there is

• A) a tax.
• B) a subsidy.
• C) a quantity regulation.
• D) a price regulation.
• E) an externality.

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Definitions:

Geographical Pattern

The distribution of a specific phenomenon or characteristics across different locations or areas.

BioPPE

Protective clothing and equipment used in biological research and healthcare settings to prevent exposure to harmful biological agents.

Self-Contained Breathing Apparatus

A device worn to provide breathable air in environments that are immediately dangerous to life or health.

Mass Casualty Incident (MCI)

An event that overwhelms the local healthcare system with the number and severity of casualties.