Social costs are

Name: Social costs are
Brand: Quizplus
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Question

Social costs are

Quizplus · Accepted Answer

Social costs refer to the full cost borne by society as a result of a resource use or economic activity. This includes both the private costs that individuals or businesses incur as well as any external costs or negative impacts on the environment or other members of society. It is not limited to costs borne by the government or individuals who incur them, and is not simply another term for external costs.

Social Costs Are