An Externality Exists Whenever

question 218

Multiple Choice

An externality exists whenever

• A) the economy cannot benefit from government intervention.
• B) markets are not able to reach equilibrium.
• C) a firm sells its product in a foreign market.
• D) a person engages in an activity that influences the well-being of a bystander and yet neither pays nor receives payment for that effect.

Define entrepreneurship and appreciate its multifaceted nature.

Understand the role of feedback in corporate entrepreneurship and strategic planning.

Grasp the importance of collaboration in entrepreneurial success.

Distinguish between media portrayal and the reality of entrepreneurship.

---

Definitions:

Biome

A large community of plants and animals that occupies a distinct region defined by its climate and dominant vegetation.

Benthic Environment

Ocean floor divided into zones based on distance from land, light availability, and depth.

Exclusively

Without involving anything or anyone else; solely.

Bloodworms

Aquatic larvae of certain midge species, characterized by their red color due to hemoglobin in the blood, often used as fishing bait and in aquarium feeding.