An Externality Is

question 99

Multiple Choice

An externality is

• A)a benefit realized by the purchaser of a good or service.
• B)a cost paid for by the producer of a good or service.
• C)a benefit or cost experienced by someone who is not a producer or consumer of a good or service.
• D)anything that is external or not relevant to the production of a good or service.

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Definitions:

Power Abuse

The misuse of authority or control to manipulate or harm others, often for personal gain or to maintain power.

Political Corruption

Illicit and unethical conduct by public officials, which can include bribery, nepotism, and embezzlement to gain personal benefit.

Personal Use

Refers to items or substances used by an individual for private and personal purposes, not for commercial or public distribution.

Weak Social Controls

A situation where societal norms, laws, and enforcement mechanisms are insufficient to regulate individuals' behavior effectively, leading to higher rates of deviance and crime.