An Externality

question 166

Multiple Choice

An externality

• A) may be positive or negative.
• B) means a rapidly rising cost borne by consumers.
• C) is the cost of producing a good outside the United States.
• D) is the indirect cost, the overhead, of producing a product.

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Definitions:

Support Staff

Employees who provide administrative or technical services to aid the primary functions of an organization, institution, or industry.

Profit-Sharing Plan

A retirement plan where companies share a portion of their profits with employees, which is allocated to individual employee retirement accounts.

Job Classification

The categorization of jobs or positions within an organization based on duties, responsibilities, and pay scales.

Prorated Refund

A refund amount calculated to give back the proportionate value of an unused service or product, adjusted according to the time left or not consumed.