Ask Question
16 February, 07:47

When consumption or production of a product has a harmful side effect that is borne by people not directly involved in the market exchange for that product, the side effect is called a (n) :

+4
Answers (1)
  1. 16 February, 08:15
    0
    An external cost.

    Explanation:

    An external cost is the cost borne upon by a third party, maybe an individual, firm or community as a result of a market exchange for a product which they are not directly involved in. And this can occur in both production and consumption.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When consumption or production of a product has a harmful side effect that is borne by people not directly involved in the market exchange ...” in 📗 Physics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers