Which of the Following Terms Is Defined as a Region

question 50

Multiple Choice

Which of the following terms is defined as a region of the earth that observes a uniform standard time?

• A) Place
• B) Space
• C) Site
• D) Region
• E) Time zone

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Definitions:

Coase Theorem

An economic theory that suggests that if trade in an externality is possible and there are no transaction costs, parties can negotiate solutions to conflict that lead to an efficient outcome regardless of the initial allocation of property.

Externalities

Economic side effects or by-products that affect an uninvolved third party; can be positive or negative.

Pollution Abatement

Measures and processes undertaken to reduce, control, or eliminate pollution from various sources.

Optimal Amount

The quantity of a good or service that yields the highest utility or benefits under specific conditions.