Examlex
Negative reinforcement occurs when the introduction of a consequence increases or maintains the frequency or future probability of a behaviour.
External Costs
Costs incurred by third parties who are not directly involved in a transaction or economic activity, such as environmental pollution affecting the community.
Marginal Cost Curve
A graphical representation showing how the cost of producing one more unit of a good changes as production volume increases.
Marginal Social Cost
The total cost to society of producing one additional unit of a good or service, including both direct costs and any adverse impacts on third parties.
External Costs
Costs that affect parties who do not directly participate in an economic transaction, often not reflected in market prices (e.g., pollution).
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