Externalities are defined as
a. any transaction external to the firm
b. costs or benefits that fall on third parties
c. policies that firms undertake to sell products outside the country
d. managers' dealings with stockholders outside the firm
e. costs of maintaining plant and equipment to avoid the scrutiny of external auditors
Question 2
What is the rationale for government provision of education?
a. Not all incomes are equal, but everyone has the right to education regardless of wealth.
b. Potential students consider only their personal benefits gained from education, but the rest of society benefits, too.
c. No education would be provided in the absence of government provision because everyone would consume it without paying.
d. The cost of providing education for the entire public is too large.
e. The government can provide education at a much lower cost than the private sector.
Spotted hyena cubs in Limpopo, South Africa. Note the well defined spots, which will fade with age
Structures of external, middle, and inner ear
Verification of benefits worksheet.
Example of the Index to External Causes.
Use an Automated External Defibrillator
(a) Blue arrows (right side): External components of the innate immune system: human body with skin, ...