An Externality Exists When

question 87

Multiple Choice

An externality exists when

• A) the benefits from consuming the service affect only the purchasers of that service.
• B) every person in a market system has a chance to influence how much of a product should be produced.
• C) the price of the private transaction does not reflect all the costs of the items involved in that transaction.
• D) the costs of producing a service affect only the sellers of that service.
• E) only the buyers and sellers are affected by the production of a product or service.

Understand the political and social motivations behind the relocation of Confederates after the war.

Grasp how northern Democrats viewed the treatment of ex-Confederate states post-war.

Analyze the socio-political concepts hindering Confederate men from accepting defeat.

Explain the purpose and implications of the 13th amendment.

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Definitions:

Communicated

The act of conveying information, feelings, or ideas from one entity to another through verbal, non-verbal, written, or digital means.

Cooperate

To work jointly towards a common goal or towards completing a task.

Compete

To take part in a contest or rivalry with the objective of winning or achieving dominance over others.

Tragedy of the Commons

A concept illustrating how individual users acting independently according to their own self-interest can ultimately deplete or spoil a shared limited resource, despite it being in no one's long term interest.