Which of the Following Is True

question 52

Multiple Choice

Which of the following is true?

• A) social costs = internal costs - external costs
• B) social costs = internal costs + external costs
• C) internal costs = social costs + external costs
• D) external costs = social costs + internal costs
• E) internal costs - social costs = external costs

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Definitions:

European Communism

A variant of communism that was practiced in various countries in Europe, characterized by the implementation of Marxist-Leninist principles in political, economic, and social spheres.

Collapsed

A sudden failure or downfall, often used to describe economies, markets, or structures giving way under pressure.

Karl Marx

A 19th-century philosopher, economist, and revolutionary socialist who developed the theory of Marxism, critiquing the impacts of capitalism on society.

Capitalists

Individuals or entities that own capital goods, invest in business ventures, and seek to generate profits within an economic system based on capitalism.