An externality is the

A. secondary effect on an action
B. unintended consequence of an action
C. effect of an action on people or things that were not involved in the action
D. unknown consequence of an action on people or things who were primary parties in the action

Answer: C. effect of an action on people or things that were not involved in the action

Economics

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John Maynard Keynes believed the ideas of economists to be

a. generally incorrect. b. powerful. c. academic and without practical application. d. rantings of madmen.

Economics

Explain how a business chooses to set output

What will be an ideal response?

Economics