Question

______ occur whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant.

a. Pecuniary benefits and costs
b. Externalities
c. Intangibles
d. Monopoly costs and benefits

Answer 1

The choose b. Externalities

Externalities occur whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant.

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