An External Benefit Is a Benefit from a Good or Service

question 63

Multiple Choice

An external benefit is a benefit from a good or service that someone other than the ________ receives.

• A) seller of the good or service
• B) government
• C) foreign sector
• D) consumer
• E) market maker

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Definitions:

Income Received

Refers to the total amount of money or assets that an individual or entity receives over a certain period, including wages, dividends, sales proceeds, or benefits.

Annual R&D

Refers to the yearly research and development expenses undertaken by a company to innovate and improve its products or services.

Percent Increase

The percentage by which a quantity grows relative to its previous value.

Effective Annualized

A term relating to the computation of annual rates of interest or financial returns that takes compounding into account.