The Term Externalities Refers to

question 73

Multiple Choice

The term externalities refers to

• A)Only positive benefits of a market activity borne by a third party.
• B)Only negative costs of a market activity borne by a third party.
• C)The negative costs and positive benefits of a market activity borne by a third party.
• D)None of the choices are correct.

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Definitions:

Centre-of-Gravity

An optimization technique used in logistics and supply chain management to determine the optimal location of a facility based on minimizing transportation costs, considering the geographic location of suppliers, manufacturers, and customers.

Tonnes

A metric unit of mass equivalent to 1,000 kilograms or approximately 2,204.6 pounds.

Processing Mill

A facility where raw materials are processed, refined, or transformed into finished products through various mechanical or chemical procedures.

Transportation Costs

The expenses associated with moving goods from one location to another, including fuel, labor, and maintenance of vehicles.