What Is the Externality for the Following Description

question 5

Short Answer

what is the externality for the following description.
-In addition to their effects on individual health, cigarette smoking and alcohol consumption may also have negative effects on the rest of society in terms of passive smoking and antisocial behavior, which are not compensated for in the private market.

Analyze the automotive industry's influence on American society, including marketing strategies and social changes.

Comprehend the political and social responses to immigration in the 1920s.

Learn about the resurgence and transformation of the Ku Klux Klan during the 1920s.

Understand the significance of major legal and political events and their effects on American society.

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Definitions:

Risk Reduction

Strategies or actions taken to decrease or mitigate the impact of uncertainties on business objectives or investment outcomes.

Balance Sheet

A financial statement at a given point in time that shows assets on one side and liabilities and net worth on the other side; because assets must equal liabilities plus net worth, the two sides of the statement must be in balance.

Net Worth

The total assets minus total external liabilities of an individual or a company, indicating their overall financial position.

Liabilities

Financial obligations or debts owed by a company or individual to others, which must be settled over time through the transfer of economic benefits.