What Does the Phrase 'Internalising an External Cost' Mean

question 12

Multiple Choice

What does the phrase 'internalising an external cost' mean?

• A)Limiting the extent to which domestic firms can outsource production
• B)Prohibiting economic activities that create externalities
• C)Forcing producers to factor into their production costs the cost of the externalities created in the production of their output
• D)Finding a way to address cross-border pollution

Learning about legal outcomes and precedents related to fraudulent activities and unauthorized signatures on negotiable instruments.

Understand and apply the principles of ratio and proportion to solve real-world problems.

Demonstrate proficiency in solving linear equations and systems of linear equations graphically.

Calculate percentages, including tax, discount, markup, and rate of change.

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Definitions:

Seafloor Spreading

The process by which oceanic crust is formed at mid-ocean ridges and moves outward from ridge crests, driven by tectonic plate movements.

Volcanic Activity

The process by which magma and gases are transferred from the Earth's mantle to its surface, including eruptions, lava flows, and gas emissions.

Converging Plates

The movement of two tectonic plates towards each other, often leading to geological features like mountains, earthquakes, and volcanoes.

Seafloor Spreading

The process by which new oceanic crust is formed at mid-ocean ridges and slowly moves away from them, caused by the divergence of tectonic plates.