An Externality Is

question 56

Multiple Choice

An externality is:

• A) A cost or benefit of a market activity that impacts a third party.
• B) The private costs that are borne by an individual.
• C) The cost of clean up paid for by the polluter.
• D) A situation in which the government solution makes the outcome worse.

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Definitions:

Caring Attitude

An approach that embodies compassion, concern, and consideration for others, showing support and understanding in a healthcare context.

Client's Crying

An emotional response or manifestation of feelings of distress, sadness, or joy in a therapeutic or caregiving environment.

Critical Thinking

The objective analysis and evaluation of an issue in order to form a judgment, crucial in problem solving and decision-making processes.

Reasoned Thought

The process of thinking about something in a logical, sensible way, often involving critical evaluation.