Externalities Are the Unintended Negative (Or in Some Cases Positive)

question 40

True/False

Externalities are the unintended negative (or in some cases positive) consequences that an economic transaction between two parties can have on some third party.

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Definitions:

Photon

A quantum of electromagnetic radiation, often regarded as a discrete particle of light with zero rest mass and energy dependent on its frequency.

Particle Nature

The characteristic of matter to exhibit properties of particles, including mass and discrete boundaries, observable in phenomena like the photoelectric effect.

Wave Nature

Wave Nature relates to the characteristics of particles, such as photons and electrons, to exhibit properties typical of waves, including interference and diffraction.

Blue Irises

Refers to a physical trait where the irises of the eyes have a blue pigment.