Negative Externalities Are Costs That Affect Others External to a Choice

question 121

True/False

Negative externalities are costs that affect others external to a choice or a trade.

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Definitions:

World Price

The international market price of a good or service, determined through global supply and demand.

Canada

A country located in the northern part of North America, known for its vast landscapes, multiculturalism, and highly developed economy.

Production Possibilities

The different combinations of goods and services that can be produced from a fixed set of resources.

United States

A federal republic consisting of 50 states, a federal district, and various territories, known for its vast size, diverse culture, and significant global influence.