Which One of the Following Is an Example of an External

question 246

Multiple Choice

Which one of the following is an example of an external cost?

• A) the cost to attend college
• B) labor costs to a firm
• C) emissions from a factory
• D) a house payment owed by a friend

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Definitions:

Rescind

To revoke, cancel, or annul a contract, agreement, or resolution.

Uniform Simultaneous Death Act

A legal guideline used to determine inheritance when two or more people die at the same time or under conditions where it's impossible to determine who died first.

Tornado

A violently rotating column of air that extends from a thunderstorm to the ground, known for its potential to cause widespread destruction.

Intestate

The state of dying without a valid will, resulting in one's assets being distributed according to statutory guidelines.