The costs of a market activity paid for by an individual NOT engaged in the market activity are ________ costs.

Name: The costs of a market activity paid for by an individual NOT engaged in the market activity are ________ costs.
Brand: Quizplus
Rating: 4.8 (39 reviews)

Question

Quizplus · Accepted Answer

External costs are costs paid for by individuals who are not directly involved in the market activity. These costs can be incurred by third parties who are adversely affected by the market activity, such as pollution or congestion.

The Costs of a Market Activity Paid for by an Individual