Ability Is BEST Describes as What a Person Is ________

question 43

Multiple Choice

Ability is BEST describes as what a person is ________.

• A) interested in doing
• B) capable of doing
• C) predisposed to do
• D) trained to do

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Definitions:

External Benefit

An advantage or positive effect on a third party or society at large, resulting from an economic transaction or activity, not accounted for in the market price.

Supply And Demand

The economic model that determines the price levels of goods and services based on the relationship between the quantity available and the quantity demanded by consumers.

Price Mechanism

The process by which prices adjust to equilibrate supply and demand, guiding economic actions and resource allocation.

External Cost

A cost that is not borne by the parties directly involved in an economic transaction but by a third party or the environment.