The cost or benefit of a market activity borne by a third party is

A. A monopoly.
B. An externality.
C. A government directive.
D. Black-market economic activity.

Answer: B

Economics

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Which of the following is a result of scarcity?

a. Costs are incurred in making choices. b. We attempt to utilize our resources as efficiently as possible. c. We must make choices between production possibilities. d. We are unable to produce all we would like to produce. e. All of these.

Economics

John Maynard Keynes concluded that investment spending is determined by

a. business confidence. b. economic expectations. c. psychological perceptions about the economy. d. All of the above are correct.

Economics