On January 1, 1959 Fidel Castro and his band of guerillas took over the government of President General Fulgencio Batista. Although the United States supported Castro during his revolution against Batista's regime, it was uneasy over the communist leanings of Castro. In 1960, Castro seized private lands and took over all U.S. owned businesses in Cuba and imposed heavy taxes on American goods. As a result, the United States ended diplomatic ties with Cuba and imposed a trade embargo which made Cuba turn to the Soviet Union instead. The United States made several unsuccessful attempts to overthrow the Cuban government.
Externality An economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume. When the production or consumption of a good or service has an effect upon a third party. Failure of the market to achieve a social optimum where MSB = MSC
The answer is a)produce or consume
A. In the early 1900s
According to australia.gov.au :
"Australia became an independent nation on 1 January 1901 when the British Parliament passed legislation allowing the six Australian colonies to govern in their own right as part of the Commonwealth of Australia".
