_______________ is the assignment of private and societal costs to products.

Question

Quizplus · Accepted Answer

Full environmental costing (also known as true cost accounting) assigns environmental and social costs to products, including costs related to pollution, depletion of natural resources, and health impacts. It provides a more accurate representation of the true cost of a product, beyond just the direct monetary costs, by also considering the indirect costs to society and the environment. Full private costing refers only to the direct monetary costs borne by the producer and does not account for externalities. Life-cycle costing considers the costs associated with a product throughout its entire life cycle, from production to disposal. Market costing refers to the price of a product set by supply and demand in the market, but does not account for externalities.

_______________ Is the Assignment of Private and Societal Costs to Products