A Trade Between Two People Is an Example of an Externality

question 17

True/False

A trade between two people is an example of an externality.

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Definitions:

Gallstones

Hardened deposits that form in the gallbladder, which can cause pain and digestive problems.

Arthritis

A group of conditions characterized by inflammation and pain in the joints.

Diabetes

A chronic metabolic disorder characterized by high blood sugar levels due to the body's inability to produce enough insulin or effectively use insulin.

Obesity

Obesity is a medical condition characterized by an excess of body fat, which can significantly increase the risk of other health problems, such as heart disease, type 2 diabetes, and certain cancers.