A Benefit That Accrues Without Compensation to Someone Other Than

question 50

Multiple Choice

A benefit that accrues without compensation to someone other than the person who caused it is called:

• A) an external benefit.
• B) a network benefit.
• C) a social benefit.
• D) a private benefit.

Recognize the types of remedies available in the legal system and their appropriate applications.

Comprehend the nature and creation of administrative law.

Analyze and interpret major court decisions and their impact on law.

Understand the protections provided by the U.S. Constitution, including the Bill of Rights.

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Definitions:

Long-Run

A period in economics where all factors of production and costs are variable, and all market adjustments to changes have been completed.

Aggregate Supply

The complete production of goods and services within a country's economy at an established price level over a defined period.

Recession With Inflation

A situation characterized by rising inflation during a period of economic downturn, leading to high unemployment and stagnant demand.

Short Run

A period in economic analysis where at least one input is fixed and cannot change.