An Externality Is an Example of a Market Failure

question 227

True/False

An externality is an example of a market failure.

---

Definitions:

Living Independently

The condition or ability of an individual to manage their own life and needs without relying on others for daily support.

Sociological

Pertaining to the study of society, its institutions, and the relationships between individuals within those institutions.

Financially Independent

refers to having sufficient personal wealth to afford living expenses without depending on employment income or financial support from others.

Cohabitating

Living together in a romantic relationship without being married.