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Explain the five positive bureaucratic features that Max Weber believed contributed to a better-performing organization.
External Costs
Costs that are not borne by the parties to a transaction but are imposed on others, such as pollution affecting non-participants.
Output
The amount of goods or services produced by a company, industry, or economy in a given period.
Marginal Social Benefit
The additional benefit to society from one more unit of a good or service being produced and consumed.
Marginal Social Cost
The additional cost incurred by society as a whole from producing one more unit of a good or service, including both private costs and any externalities.
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