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People also ask
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What is a cost or benefit of an economic activity that has an impact?
An externality is a cost or benefit of an economic activity experienced by an unrelated third party. The external cost or benefit is not reflected in the final cost or benefit of a good or service.
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What arise when an economic activity imposes a cost to a third party not involved in the economic activity?
negative externality, in economics, the imposition of a cost on a party as an indirect effect of the actions of another party. Negative externalities arise when one party, such as a business, makes another party worse off, yet does not bear the costs from doing so.
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Which of the following are likely reasons why respondents might not share their thoughts with an interviewer during a personal interview survey for market research?
Final answer: Respondents may not share their thoughts in market research interviews due to social desirability bias, fear of judgment, lack of interest, lack of time, and fear of privacy invasion.
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Which of the following are the top challenges associated with AI?
AI Ethical Issues. Ethics in AI is one of the most critical issues that needs to be addressed. ... Bias in AI. ... AI Integration. ... Computing Power. ... Data Privacy and Security. ... Legal issues with AI. ... AI Transparency. ... Limited Knowledge of AI.
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When costs or benefits of a market activity affect a third party, economists would say that?
So, externalities occur when some of the costs or benefits of a transaction fall on someone other than the producer or the consumer.
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Are the costs or benefits of market activities that spill over onto third parties?
However, sometimes, costs or benefits may spill over to a third party not directly involved in the transaction. These spillover costs and benefits are called externalities. A negative externality occurs when a cost spills over. A positive externality occurs when a benefit spills over.
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When costs or benefits of a market activity affect a third party, economists would say that external costs exist.?
In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced components that are involved in either consumer or producer market transactions.
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Which of the following is correct regarding organizations?
It is a group of two or more people working together to achieve a common set of goals. An unincorporated computer repair shop operated by two friends is not an organization, since it is unincorporated.
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