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Externalities Always Consist of Benefits That Are Not Confined to the Person

question 122

True/False

Externalities always consist of benefits that are not confined to the person or organization that decides how much of a good to produce or consume.


Definitions:

Forethought

Pertains to the mental activity involving planning or thinking ahead before taking action.

Social Learning Theory

A theory that proposes individuals learn new behaviors and acquire new information through observing others in their social environment.

Anticipate

The act of expecting or predicting something to occur in the future.

Behaviors

The behaviors or responses of people or collectives when faced with outside or inside prompts.

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