The Difference Between Social Cost and Private Cost Is a Measure

question 449

Multiple Choice

The difference between social cost and private cost is a measure of the

• A)loss in profit to the seller as the result of a negative externality.
• B)cost of an externality.
• C)cost reduction when the negative externality is eliminated.
• D)cost incurred by the government when it intervenes in the market.

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Definitions:

Present Performance

An evaluation of current achievements or outcomes in a given task or activity.

Goal-Setting Model

A framework that emphasizes the importance of setting specific, measurable, achievable, relevant, and time-bound goals to enhance motivation and performance.

Achieve Goal

The successful accomplishment or attainment of specific objectives or desired outcomes.

Management Objectives

Goals and targets set by management to guide the direction and evaluate the performance of an organization.