Organisms May Retain Previous Physiology That Is Neither Adaptive nor Functional;

question 24

Short Answer

Organisms may retain previous physiology that is neither adaptive nor functional; these are called _____.

Analyze how government interventions, such as taxes and subsidies, can address externalities.

Comprehend the role of property rights in resolving disputes over external costs and benefits.

Evaluate the consequences of government policies on market equilibrium, prices, and output levels.

Identify the differences between private, social, and marginal costs and benefits.

---

Definitions:

Weekly Cash Flows

The movement of cash in and out of a business on a weekly basis, tracking how money is spent and received.

Opportunity Cost

The expense incurred by not choosing the second-best option while deciding.

Monthly Cash Flows

The total amount of money being transferred into and out of a business, particularly during a month.

Lockbox System

A system used by companies to expedite the collection of check payments by having them processed through a bank's PO Box.