An Externality Is

question 53

Multiple Choice

An externality is

• A) a benefit realised by the purchaser of a good or service.
• B) a cost paid for by the producer of a good or service.
• C) a benefit or cost experienced by someone who is not a producer or consumer of a good or service.
• D) anything that is external or not relevant to the production of a good or service.

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Definitions:

Acute Kidney Failure

A rapid loss of kidney function, resulting in poor filtration of blood, accumulation of waste products, and imbalance of body fluids and electrolytes.

Hemorrhaging

The process of losing blood rapidly in a short period, often due to injury or a medical condition.

Detrusor Muscle

A smooth muscle that contracts to push urine from the bladder into the urethra.