The ____ cost of a commodity is the total cost to produce the product and to resolve any environmental damage caused by using the product.

A) market
B) social
C) total
D) true
E) regulated

Social Cost

Refers to the total impact of an activity on society, including negative effects that are not usually accounted for in the marketplace.

Environmental Damage

Harm caused to natural environments due to human activities, often impacting ecosystems, biodiversity, and public health.

Commodity

A basic good used in commerce that is interchangeable with other goods of the same type.