Which Term Refers to the Social Cost of Production Being

question 93

Multiple Choice

Which term refers to the social cost of production being greater than the private cost?  

• A) positive externality 
• B) negative externality 
• C) public good 
• D) private good

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Definitions:

Market Conditions

The various economic and social factors that influence the demand and supply of products and services, including market trends, consumer preferences, and economic indicators.

Plant Capacities

The maximum output or production ability of a manufacturing facility or plant within a given time period.

Cost Leadership

A competitive advantage strategy by minimizing operational costs to offer products or services at the lowest price in the market.

Manufacturing Facilities

Locations where products are produced or assembled.