An External Benefit Is a Benefit Received By

question 222

Multiple Choice

An external benefit is a benefit received by:

• A) the consumers trading in the market.
• B) the producers trading in the market.
• C) both the consumers and producers trading in the market.
• D) people other than the consumers or producers trading in the market.

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Definitions:

Deferred Gratification

The capacity to withstand the allure of an instant gratification in favor of receiving a reward at a future time.

Classism

Prejudice or discrimination based on social class, often manifesting as an unequal treatment of people from different economic and social backgrounds.

Welfare Rates

The level of financial support provided by the government to individuals under social welfare programs.

Class Position

Denotes an individual's or group's location within a hierarchical social structure, often determined by occupation, wealth, education, and social connections.