Question : The concept of marginal social cost refers to:

Option 1: The cost incurred by an individual or firm in producing an additional unit of a good or service
 

Option 2: The cost incurred by society as a whole in producing an additional unit of a good or service
 

Option 3: The cost incurred by the government in producing an additional unit of a good or service

Option 4: The cost incurred by consumers in producing an additional unit of a good or service

Question : Why Marginal Opportunity Cost (MOC) is increasing?

Option 1: More and more units of a commodity is sacrificed to gain an additional unit

Option 2: Less and less units of a commodity is sacrificed to gain an additional unit

Option 3: More and more units of a commodity is gained to sacrifice an additional unit

Option 4: Both 2 and 3

Question : Externalities refer to:

Option 1: Costs or benefits that spill over to third parties not directly involved in a transaction
  

Option 2: Costs or benefits incurred by the government
 

Option 3: Costs or benefits incurred by businesses only

Option 4: Costs or benefits incurred by consumers only

Question : Externalities refer to:

Option 1: Costs or benefits that spill over to third parties not directly involved in a transaction
  

Option 2: Costs or benefits incurred by the government
 

Option 3: Costs or benefits incurred by businesses only

Option 4: Costs or benefits incurred by consumers only

Question : Social identity is:  

Option 1: The uniqueness of an individual's personality  

Option 2: The part of an individual's self-concept derived from membership in social groups  

Option 3: The influence of society on an individual's behavior  

Option 4: The process of conforming to group norms  

Option 2: The part of an individual's self-concept derived from membership in social groups  

Option 3: The influence of society on an individual's behavior  

Option 4: The process of conforming to group norms