A Procedure That Eliminates or Internalizes Externalities Without Government Action

question 145

Multiple Choice

A procedure that eliminates or internalizes externalities without government action other than defining property rights is called

• A)a private remedy.
• B)a public remedy.
• C)privatization.
• D)contingent valuation.
• E)a user fee.

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Definitions:

Contextual Resilience

The ability of an entity, such as a community or ecological system, to withstand and adapt to changing conditions or shocks while maintaining its essential functions.

High Degree

A level of academic achievement such as a master's or doctorate that is higher than a bachelor's degree, indicating advanced knowledge and study in a particular field.

Personal Integrity

The quality of being honest and having strong moral principles, which guide one's behavior and decisions consistently.

Ethical Standards

Principles that govern the behavior of individuals and organizations, often guiding actions in professional and personal contexts.