An External Cost Is

question 19

Multiple Choice

An external cost is

• A) The cost of a warehouse
• B) A cost of production in some other market
• C) The economic harm that a positive externality imposes on others
• D) The economic harm that a negative externality imposes on others

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Definitions:

Education Level

The highest degree or level of school completed by an individual, often used as a measure of socio-economic status and predictor of health outcomes.

Biopsychosocial Model

A holistic approach to understanding health and illness by examining biological, psychological, and social factors.

Biomedical Model

A framework that explains diseases solely through biological factors, ignoring psychological and social influences.

Positive State

A condition or mood characterized by optimism, happiness, and well-being, where individuals feel fulfilled and content.