Asked by
Kirill Loyacano
on Nov 05, 2024
Verified
A cost or benefit resulting from some activity that is imposed or bestowed on third parties is
A) a market failure.
B) an externality.
C) a public good.
D) logrolling.
Externality
A consequence of an economic activity experienced by unrelated third parties; it can be either positive or negative.
Market Failure
Situations where the allocation of goods and services by a free market is not efficient, often requiring government intervention.
- Learn about externalities and their implications for social well-being.
Verified Answer
JS
Learning Objectives
- Learn about externalities and their implications for social well-being.
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