🎴 Flashcard Mode
Environmental Economics and Welfare
Card1 / 15
Mastered0
Review0
QuestionClick to flip
What is the term used to describe the situation where the actions of one party impose costs on another party without compensation?
AnswerClick to flip back
A
Externality
💡 Explanation:
An externality is a situation where the actions of one party impose costs or benefits on another party without compensation.