If the production of a good created both external costs and external benefits, but the external costs were greater, without government intervention, a market economy will not produce the product at all.
In the production and consumption of goods and services, there exist costs that are passed on to a third party. The general public, who is ultimately responsible for paying for them, is in fact subsidizing goods and services with external costs.
External costs are still necessary to be paid for even when they are not included in the product's price. It is ultimately the responsibility of society as a whole to pay for external costs through taxes, accident compensation, medical expenditures, insurance premiums, deterioration in environmental quality, and losses in natural capital.
Usually, the price of goods and services includes External costs, which results in a higher overall cost. Because consumers frequently select the lowest options, clean, sustainable products have a pricing disadvantage.
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Answer:
The degree of wealth and material comfort available to a person or community.
Explanation:
How nice the way they live their life is
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Answer:
The correct answer is letter "D": Leading.
Explanation:
Managers have different functions within their organizations. The leading role implies setting an example of how work should be done in the entity. Managers should be the firsts applying what they request. By leading groups, managers guide employees to the organization's success without forgetting to attempt to fulfill workers' personal objectives.
