An External Benefit Occurs When

question 212

Multiple Choice

An external benefit occurs when

• A)some of the benefits derived from the production or consumption of some good or service are enjoyed by a third party.
• B)the production or consumption of some good or service inflicts costs on a third party without compensation.
• C)private costs exceed social costs.
• D)private benefits exceed private benefits.

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Definitions:

Extracellular Thirst

A type of thirst caused by the reduction of the volume of the fluid found outside cells, often due to loss of blood or salt intake.

Abraham Maslow

A renowned American psychologist who is primarily recognized for establishing the hierarchy of needs according to Maslow, which is a concept of psychological well-being based on satisfying inherent human necessities in a specific order, ultimately leading to self-actualization.

Hierarchy Of Needs

A motivational theory in psychology comprising a five-tier model of human needs, from basic physiological needs to self-actualization.

Ventromedial Hypothalamus

A region of the brain implicated in the regulation of satiety, metabolism, and sexual behavior.