A benefit or cost from production or consumption accruing without compensation to non buyers and non/sellers of the product is called_________________?
Correct answer: C. Spill over
- A. Speculation
- B. Specialization
- C. Spill over
- D. anti dumping
Explanation
A spillover is an external benefit or cost imposed on people who are not directly buying or selling the product. It is therefore an example of an externality, whereas speculation and specialization concern different economic processes.
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