Which of the Following Statements About Private and Social Costs

question 16

Multiple Choice

Which of the following statements about private and social costs is TRUE?

• A) Social costs include externalities.
• B) Private cost do not include externalities.
• C) Social costs are never smaller than private costs.
• D) All of the above.

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Definitions:

Afferent

Afferent refers to the conveyance of signals or nerve impulses towards the central nervous system from the periphery or from lower to higher centers within the CNS, commonly used in the context of sensory neurons.

Efferent

Relating to nerve fibers that carry impulses away from the central nervous system to effectors such as muscles or glands.

Cerebrospinal Fluid

A clear, colorless body fluid found in the brain and spinal cord, acting as a cushion and nutrient carrier.