Explain What Is Meant by "Internalizing an Externality," and Describe

question 378

Essay

Explain what is meant by "internalizing an externality," and describe three methods by which this can be done.

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Definitions:

Arterial Blood Gas

A test that measures the pH, oxygen, and carbon dioxide levels in the blood from an artery, used to check the functioning of the patient's lungs.

Hematoma Formation

The accumulation of blood outside of blood vessels, forming a clot or mass under the skin or in an organ as a result of broken blood vessels.

Venipuncture

The process of puncturing a vein, typically with a needle, to withdraw blood or administer fluids intravenously.

Tourniquet

A device used to apply pressure to a limb or extremity to control bleeding or restrict blood flow.