Unpriced Byproducts of Production or Consumption That Provide Benefits to Other

question 146

Multiple Choice

Unpriced byproducts of production or consumption that provide benefits to other consumers or other firms are known as _____

• A)negative externalities.
• B)merit goods.
• C)positive externalities.
• D)private benefits.
• E)pure substitutes.

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Definitions:

Invoice

A document issued by a seller to a buyer that specifies the amount of products or services sold and the payment terms.

Discount

A discount refers to a reduction in the price of goods or services, often used as a strategy to increase sales or clear inventory.

Cash Refund

Money returned to a purchaser as reimbursement for overpayment, returns, or dissatisfaction with goods or services.

Discount Period

The time frame within which a payment can be made by a buyer to a seller at a reduced price, typically to encourage early payment.