Examlex

Solved

Which One of the Following Statements Is INCORRECT

question 33

Multiple Choice

Which one of the following statements is INCORRECT?


Definitions:

Negative Externalities

Costs incurred by third parties not directly involved in an economic activity, for example, pollution affecting non-participating individuals.

Economically Inefficient Outcomes

Situations where resources are not allocated optimally, resulting in lost potential utility or value.

Economists

Professionals who study the production, distribution, and consumption of goods and services.

Deregulation

The reduction or elimination of government power in a particular industry, usually with the aim of creating more competition within the industry.

Related Questions