me: ID: . 48. Athird party is: a the party to which a contractual agreement is m

Question

me: ID: . 48. Athird party is: a the party to which a contractual agreement is meant to benefit b. a person, or persons, who are unintentionally affected by a market transaction the third person in a three-way contract d. the person who owns the property right in a contract e. when the government attempts to mediate a dispute between management and labor 49. Third-party beneficiaries are called a. polluters b. property owners. c. free riders. d. efficient market. e losers 50. When airplanes take off and land at Logan airport, residents of East Boston complain about the noise. T same planes make the same noise during the trip to Boston from Paris, but there are nofor most of trip because a. jet sounds; noise doesa't travel at high altitades b. third parties; there are no externalities c extermalities; there are no third parties d. complaints, airplanes are insulated e. free riders; passengers must pay to board the plane 14

Explanation / Answer

1) Solution: the party to which a contractual agreement is meant to benefit

Explanation: A third party is someone who although was not a party to the contract however stands to benefit from the contract

2) Solution: free riders

Explanation: The problem of free-rider occurs when those who gains from resources, public goods, or services do not pay for them

3) Solution: externalities; there are no third parties

Explanation: An externality is a consequence which can be positive or negative of an economic activity experienced by unrelated third parties. Since planes make the same noise during the trip to Boston from Paris however as there are no third parties thus no externality occurs

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.