A(n)__________ is an effect of a purchase or use decision by one set of parties on others who did not have a choice and whose interest was not taken into account.

Question

Quizplus · Accepted Answer

An externality is a consequence of an economic activity experienced by unrelated third parties. These effects can be positive or negative and can affect an individual, a community, or society as a whole. The decision-makers do not consider these consequences when making choices, and those affected have no control over the decision.

A(n)__________ Is an Effect of a Purchase or Use Decision