An External Cost Is Imposed When an Action Imposes Costs

question 29

True/False

An external cost is imposed when an action imposes costs on others outside the context of market exchange.

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Definitions:

Turnaround Relationship

A relationship that has experienced significant improvement or rehabilitation after facing difficulties or challenges.

Protective Factor

Variables or conditions in individuals, families, communities, or the larger society that mitigate or eliminate risk, thereby increasing the likelihood of positive outcomes.

Cultural Deficit Model

A controversial perspective that attributes lack of academic success to the cultural, familial, or linguistic deficiencies of the student's background.

Poverty

A condition where individuals or communities lack the financial resources and essentials for a minimum standard of living.