≪If You Know Someone Is Engaged in Illegal Behavior and You

question 10

True/False

<If you know someone is engaged in illegal behavior and you do not report it,you could be disciplined,fired,or subject to legal action yourself even if you were not involved.

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Definitions:

External Cost

An external cost, or negative externality, refers to a cost that a transaction or activity imposes on parties who are not involved in the transaction, such as pollution affecting non-participants.

Positive Externality

A benefit that affects someone who did not choose to incur that benefit, often leading to an under-provision of a good or service.

Vaccination

A medical intervention that introduces a substance to stimulate the body's immune response against disease.

Producer Surplus

The discrepancy between what sellers are prepared to take for a product or service and the actual payment they get in the marketplace.