External Costs Can Arise When

question 94

Multiple Choice

External costs can arise when

• A) demand is too low.
• B) firms use resources without having to pay for them.
• C) the market price of a product is greater than is necessary for an optimal allocation of resources.
• D) government no longer subsidizes an external benefit product.
• E) market supply is too low.

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Definitions:

Epigenetic Mark

Chemical modifications to the DNA or histone proteins that affect gene expression without altering the DNA sequence itself, playing a crucial role in development, aging, and disease.

Sensorimotor Stage

The earliest stage in Piaget's theory of cognitive development, where infants learn about the world through their movements and sensory experiences.

Personality Traits

Enduring characteristics that describe an individual's typical patterns of behavior, thought, and emotional response.

Adults

Individuals who have reached a mature stage of development in human growth, typically marked by full physical growth and legal age of majority.