Examlex

Solved

Daniel Has an Excellent Idea to Increase Productivity on His

question 20

Multiple Choice

Daniel has an excellent idea to increase productivity on his assembly line. However, the original idea he sent to his superiors was altered along the way and became ineffectual. This occurrence is known as


Definitions:

External Costs

Costs that are not borne by the producer or consumer of a good or service but by society, such as pollution.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where market supply and demand balance each other.

External Benefits

Positive effects experienced by individuals or groups who did not directly participate in the actions that produced those benefits.

Related Questions