Externalities Are the Intended Negative (Or in Some Cases Positive)

question 5

True/False

Externalities are the intended negative (or in some cases positive) consequences that two parties purposefully impose on an external third party.

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Definitions:

Nature

The phenomena of the physical world collectively, including plants, animals, landscapes, and other features and products of the earth, as opposed to humans or human creations.

Worldview

The overarching set of beliefs, values, and perceptions through which an individual or group interprets and understands the world around them.

Physical Body

The biological and tangible structure of a living organism, including its organs, limbs, and cells.

Mental Component

Relates to the aspects of cognitive functioning, including thoughts, attitudes, and perceptions.