UNIT 07 / THE PRICE SYSTEM AND THE MICROECONOMY

Private costs and benefits, externalities and social costs and benefits7.4 test

100 questions with explanations after each answer.

Practice mode

QUESTION 01 / 100Easy

What is a private cost?

Select one answerAA cost imposed only on uninvolved parties.BThe total cost incurred by society.CA benefit obtained by the producing firm.DA cost borne by the economic decision-maker.

Submit your answer to see the explanation.

1 of 100

A wrong answer is a useful starting point. Read the explanation, then keep going.

Question 1