An Externality Is an Economic Cost or Benefit That Is

question 2

True/False

An externality is an economic cost or benefit that is the by-product of economic activity and which is allocated within the market system.

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Definitions:

Marine Animals

Aquatic organisms that live in the ocean and other saltwater environments.

Bystander Apathy

A phenomenon in which individuals are less likely to offer help to a victim when other people are present.

Primary Groups

Small social groups characterized by close, personal, and enduring relationships, such as those found in families and close friendships.

Emotional Ties

Connections between individuals that are based on feelings, affection, or personal bonds rather than on logical or contractual relationships.