The term externalities refers to
A) consequences of action not taken into account in making decisions.
B) social interactions associated with urban-industrial economies.
C) the superficial consequences of decisions.
D) the visible consequences of decisions.
A
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The larger firms in the red-meat industry have blunted the effects of competition by relying on product differentiation, which in effect, creates a downward-sloping demand curve for each firm's product
Indicate whether the statement is true or false
People often use probability statements to describe events that can only happen once. For example, a political consultant may offer their opinion about the probability that a particular candidate may win the next election
Probability statements like these are based on ________ probabilities. A) frequency-based B) objective C) subjective D) universally known