An Externality Is

question 319

Multiple Choice

An externality is

• A) a third-party benefit or cost that is associated with the production of a good.
• B) when external forces such as war or flood affect the market.
• C) government intervention in the markets.
• D) transaction costs.

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Definitions:

Indoor Environmental Toxins

Harmful substances found within indoor environments that can affect human health.

Physical Activities

Any bodily movement produced by skeletal muscles that requires energy expenditure, contributing to physical fitness.

Asthma

A chronic respiratory disease characterized by sudden attacks of coughing, wheezing, and difficulty in breathing.

Chronic Medical Condition

A long-lasting health condition that may not have a cure and requires ongoing treatment and management.