When Market Activity Generates a Negative Externality, the Level of Output

question 172

True/False

When market activity generates a negative externality, the level of output in the market equilibrium is lower than the socially optimal level.

---

Definitions:

Norming Stage

A phase in team development marked by the establishment of order and cohesion among team members as they work towards common goals.

Future Viability

The potential for continued existence, success, or growth in the future, often assessed in terms of economic, environmental, and social sustainability.

Task Performance

The efficiency and effectiveness with which an individual or group executes assigned tasks, often measured against pre-established standards.

Member Satisfaction

The level of contentment and approval expressed by members of an organization, club, or service, reflecting the quality and value they perceive.