Transaction costs a. can keep private parties from solving externality problems. b. are incurred in the production process due to externalities. c. increase when taxes are imposed to correct negative externalities. d. are eliminated when the government intervenes in a market with externalities.

Dominic is the founder of an innovative "impromptu catering" business that provides elegant, healthy party food and decorations on less than 24 hours' notice. the company has grown by over 150 percent in the past year. dominic credits some of the company's success to studying the strategies of prominent social entrepreneurs, such as wikipedia's jimmy wales. what can dominic do to exemplify the social entrepreneurship model?

Which of the following is one of the five fundamental questions? which products will be in scarce supply and which in excess supply? who should appoint the head of the central bank? how much should society save? correct what goods and services will be produced?

Todd and jim learned that in building a business plan, it was important for them to: