Which of the Following Terms Refers to the Normal Loss

question 158

Multiple Choice

Which of the following terms refers to the normal loss of hearing associated with aging?

• A)binaural
• B)presbycusis
• C)tinnitus
• D)vertigo

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Definitions:

External Costs

Costs that are not borne by the producers or consumers directly involved in a transaction but are imposed on other parties or the environment.

True Cost

Encompasses all the economic, environmental, and social costs associated with the production and consumption of a good or service.

Resource

Raw materials, labor, capital, and other inputs used in the production of goods and services.

External Benefits

Benefits of a good or service that are not captured by the market price and are received by third parties.