An Externality Is

question 89

Multiple Choice

An externality is

• A)the amount by which price exceeds marginal private cost.
• B)the amount by which price exceeds marginal social cost.
• C)the effect of government regulation on market price and output.
• D)someone who consumes a good without paying for it.
• E)a cost or benefit that arises from an activity but affects people not part of the original activity.

Know the significance of using scientific methods in psychology, such as experiments, surveys, and case studies.

Comprehend how psychological theories have evolved over time and how they apply to human behavior and mental processes.

Understand the importance of sample selection and representation in research studies.

Recognize the role of biological factors in behavior and mental processes.

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Definitions:

Disclosure Reciprocity

A phenomenon where one person's openness in sharing personal information leads to a similar response from the other person.

Self-Esteem

An individual's subjective evaluation of their own worth, encompassing beliefs about oneself as well as emotional states such as triumph, despair, pride, and shame.

Personal Information

Personal Information is data related to an individual that can identify them, such as name, address, email, or phone number.

Therapist

A professional trained to diagnose and treat individuals with emotional, mental, or psychological issues, providing various forms of therapy.