When a Good Is Produced or Consumed, the Side Effects

question 103

Multiple Choice

When a good is produced or consumed, the side effects on the people who are not directly involved in the market are called

• A)transaction costs.
• B)complements.
• C)free riders.
• D)externalities.
• E)public goods.

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Definitions:

Genetic Differences

Variations in the DNA sequences among individuals of a species that contribute to biological diversity and influences traits and susceptibility to certain diseases.

Assimilation

A pattern of relations between ethnic or racial groups in which the minority group is absorbed into the mainstream or dominant group, making society more homogeneous.

Minority Group

A group of people differentiated from the social majority, often categorised by race, religion, language, or ethnicity, and frequently facing varying degrees of marginalisation.

Dominant Group

The social group considered to have the most power, authority, and influence within a society.