A major concern with the efficiency perspective is that corporations can impose indirect consequences that may not be completely understood or anticipated.In economic terms,such an unintended consequence is called a(n)________.
A) externality
B) ethical lapse
C) oligopoly
D) random error

Question

Quizplus · Accepted Answer

An unintended consequence that can result from a corporation's focus on efficiency is called an externality. This is a term used in economics to refer to the indirect impact that a company's actions may have on individuals or the broader community, which may not be fully understood or anticipated. Examples of externalities can include pollution, traffic congestion, and even the negative effects of advertising on self-esteem and body image. Such consequences can be difficult to quantify and may require regulation or other forms of intervention to address.

A Major Concern with the Efficiency Perspective Is That Corporations