The Need for Managers in the Many New Businesses of the Late

question 4

Multiple Choice

The need for managers in the many new businesses of the late 1800s contributed significantly to the growth of

• A) the middle class.
• B) America's expanding debt.
• C) payroll clerks.
• D) big business.
• E) company takeovers.

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Definitions:

External Cost

Refers to the negative effects an activity imposes on unrelated third parties without compensation for the incurred costs.

Emission Fee

An emission fee is a charge levied on the quantity of pollution that a company or entity emits, designed to internalize the external costs of pollution and incentivize reduction in emissions.

Supply Curve

A graphical representation showing the relationship between the quantity of goods suppliers are willing to sell and the price of those goods.

Spillover Benefits

Spillover benefits occur when an economic activity positively affects unrelated third parties or the broader community, beyond the immediate buyer and seller.