When the Costs of an Action Are NOT Fully Borne

question 138

Multiple Choice

When the costs of an action are NOT fully borne by the two parties engaged in a transaction, this is called a(n)

• A) externality.
• B) opportunity cost.
• C) property right.
• D) internal cost.

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Definitions:

Creative Personality

Characteristics and traits associated with individuals who regularly produce novel and valuable ideas or solutions.

Organizational Goals

The specific objectives or targets that an organization aims to achieve, which guide its operations and strategic direction.

Ambiguous

Lacking clear definition or form; capable of being understood in more than one way and often causing confusion or misunderstanding.

Conflict

A disagreement or clash between ideas, principles, or people, often leading to a state of tension.