What Is an Externality? Explain How Someone Receiving a Meningitis

question 4

Essay

What is an externality? Explain how someone receiving a meningitis vaccination is an example of an externality in the market for health care.

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Definitions:

Personality Disorders

A group of mental health conditions characterized by enduring maladaptive patterns of behavior, cognition, and inner experience, exhibited across many contexts.

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, 5th Edition, a comprehensive classification and diagnostic tool for mental disorders used by professionals in psychiatry, psychology, and healthcare.

Personality Dimensions

Fundamental traits or aspects that constitute human personality, often identified in psychology as openness, conscientiousness, extraversion, agreeableness, and neuroticism (OCEAN).

Normal Variation

The range of differences in behavior, trait expressions, or physical characteristics present in a population without indicating a disorder.