A Trade Between Two People Is an Example of an Externality

question 17

True/False

A trade between two people is an example of an externality.

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Definitions:

Medical Technology

Refers to the application of organized knowledge and skills in the form of devices, medicines, vaccines, procedures, and systems developed to solve a health problem and improve quality of lives.

Everyday Activities

Routine actions and behaviors that individuals engage in on a daily basis, encompassing both mundane tasks and leisurely pursuits.

Disabilities

Physical or mental conditions that limit a person’s movements, senses, or activities, affecting their daily life and sometimes requiring special accommodations or interventions.

People First Philosophy

An approach that focuses on the individual and his or her abilities rather than limitations.