External Costs Are a Problem That Often Suggests Government Action

question 148

True/False

External costs are a problem that often suggests government action because the external costs are not included in the market price of a good.

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Definitions:

Consumer Debt

Personal debt incurred by an individual primarily for the purchase of consumer goods that are consumable and/or do not appreciate.

Debt Collectors

Individuals or companies engaged in recovering owed money on behalf of themselves or others.

FTC Act

The Federal Trade Commission Act, which established the FTC to prevent unfair competition and protect consumers from anticompetitive, deceptive, and unfair business practices.

Anticompetitive Practices

Business actions that reduce or prevent competition in a market, often scrutinized under competition laws.