Asked by
Deauntrae Lewis
on Oct 23, 2024
Verified
Which of the following tiers of environmental costs would not be classified as a 'private cost'?
A) Hidden costs
B) Societal costs
C) Relationship and image costs
D) Conventional costs
Societal Costs
Expenses borne by society as a whole, resulting from business operations or economic policies, including environmental damage and health impacts.
Private Cost
Expenses borne by individuals or enterprises as a result of their own production or consumption decisions, not including externalities.
- Absorb the concept of environmental costs and their segmentation into different types.
Verified Answer
CB
Learning Objectives
- Absorb the concept of environmental costs and their segmentation into different types.