____ Costs Are the Costs Associated with Implementing or Monitoring

question 106

Multiple Choice

____ costs are the costs associated with implementing or monitoring control.

• A)Cybernetic
• B)Heuristic
• C)Regulation
• D)Benchmarked
• E)Targeted

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Definitions:

Excludable

A characteristic of a good or service that means it can be restricted to paying customers only.

Rival In Consumption

A characteristic of a good whereby one person's consumption reduces its availability for another person.

Externality

An externality is a consequence of an economic activity experienced by unrelated third parties; it can be either positive (beneficial) or negative (harmful).

Exotic Fish

Fish species that are not native to a specific location, often kept in aquariums or introduced to new environments where they can sometimes become invasive.