An Externality Is Defined as

question 34

Multiple Choice

An externality is defined as

• A)an additional cost imposed by the government on producers.
• B)an additional gain received by consumers from decisions made by the government.
• C)a cost or benefit that arises from production and falls on someone other than the producer, or a cost or benefit that arises from consumption and falls on someone other than the consumer.
• D)a marginal social cost.
• E)the additional amount consumers have to pay to consume an additional amount of a good or service.

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Definitions:

Markov Analysis

A statistical method that analyzes the likelihood of future events based on current and historical data, often used for predicting future states in various contexts.

Human Resources Planning

The process of forecasting an organization’s future human resources needs and developing strategies for meeting those needs, including recruiting, training, and retaining employees.

Organizational Strategy

A plan of action designed to achieve long-term or overall goals and objectives of an organization.