The Concept of External Cost Is Associated with a Negative

question 164

True/False

The concept of external cost is associated with a negative externality, but not with a positive externality.

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Definitions:

Controlling

is one of the four major functions of management, focusing on monitoring performance and making adjustments to achieve goals.

Upside-Down Pyramid

A view of organizations that shows customers at the top being served by workers who are supported by managers.

Customers

Individuals or organizations that purchase goods or services from a business or seller.

Top Managers

The highest echelon of leaders within an organization, responsible for strategic decision-making and overall direction of the company.