Explain the Meaning of 'Externalities

question 7

Essay

Explain the meaning of 'externalities'.
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Definitions:

Trial Court

The level of court where legal disputes are first presented and heard, including evidence presentation and witness testimony, to reach a verdict or decision.

Questions of Fact

Issues determined by a judge or jury in a trial regarding the truth or falsity of evidence presented.

Questions of Law

Issues concerning the interpretation or application of laws which are decided by a judge, as opposed to questions of fact, which are decided by a jury.

State Appellate Courts

Courts within a state's judicial system that review and rule on appeals from decisions of lower courts.