Study the chart to determine the relationship between H+ concentration and pH. If you were to create a herbal remedy to decrease excess stomach acid, would you create a solution with a relatively greater or lesser number of hydrogen ions.
Definitions:
Negative Externality
A cost that affects a party who did not choose to incur that cost, often associated with production or consumption activities.
Opportunity Cost
The cost of foregoing the next best alternative when making a decision, representing the benefits that could have been received if a different decision were made.
External Cost
An external cost, or negative externality, refers to a cost that a transaction or activity imposes on parties who are not involved in the transaction, such as pollution affecting non-participants.
Positive Externality
A benefit that affects someone who did not choose to incur that benefit, often leading to an under-provision of a good or service.
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