Explain the Difference Between an Internal Cost and an External

question 136

Essay

Explain the difference between an internal cost and an external cost.Give an example of each for a car.

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Definitions:

Direct Quotation

The exact repetition of someone's words within a text, typically enclosed in quotation marks.

Natural Resources

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.

Ecological Footprints

A measure of the impact human activities have on the environment in terms of the amount of greenhouse gases produced, measured in units of carbon dioxide.

Population Growth

The increase in the number of individuals in a population over a specific period.