Many External Costs Occur Because

question 30

Multiple Choice

Many external costs occur because

• A) people do not pay the true cost of using a resource.
• B) people do not pay the private cost of using a resource.
• C) companies do not pay the market price for natural resources.
• D) companies pay more than the true cost of using a resource.

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Definitions:

Linear Way

Refers to a direct and straightforward approach or method that progresses continuously from one point to the next.

Spearman Correlation

A non-parametric measure of rank correlation that assesses how well the relationship between two variables can be described using a monotonic function.

Data Ranks

A method of placing data elements in ascending or descending order, based on their value or position in a distribution.

Likert Scale

A psychometric scale commonly involved in research that utilizes questionnaires, designed to measure attitudes or opinions with a range of fixed responses.