Multiple Choice
How have high taxes on tobacco products impacted the number of people who use them?
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7. Externalities
Externalities: Social Benefits and Social Costs
Multiple Choice
Outsourcing has been particularly detrimental to employment in which American industries?
A
Education
B
Healthcare
C
Agriculture
D
Manufacturing
Verified step by step guidance1
Understand the concept of outsourcing: Outsourcing occurs when companies contract out certain business functions or production processes to external firms, often in other countries, to reduce costs.
Identify industries commonly affected by outsourcing: Typically, industries with labor-intensive production and standardized processes are more vulnerable to outsourcing.
Analyze the given options: Education and healthcare are service-oriented sectors that require local presence and specialized skills, making them less prone to outsourcing.
Consider agriculture: While some agricultural tasks can be outsourced, much of the work is location-specific and less affected by outsourcing compared to manufacturing.
Recognize manufacturing as the industry most impacted by outsourcing due to its reliance on production processes that can be moved to countries with lower labor costs, leading to job losses in American manufacturing.
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