When the Total External and Internal Costs of a Transaction

question 258

Multiple Choice

When the total external and internal costs of a transaction are taken into consideration, this is known as

• A) public costs.
• B) average total costs.
• C) social costs.
• D) marginal costs.

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Definitions:

Treating Others

The manner in which individuals interact with and behave toward others, often reflecting their values, beliefs, and social norms.

Organization

A structured group of people working together towards common goals, characterized by a system of roles, rules, and relationships.

Business Competition

The rivalry among companies striving for greater sales, market share, and customer loyalty within the same market.

Unethical Behaviour

Actions that violate moral principles or professional standards, often causing harm to others or to the organization itself.