The effect of a transaction between two individuals on a third party who has not consented to or played any role in the carrying out of that transaction. This is called an .

Externality

Explanation:

An externality is a loss or benefit generated by a producer not caused or earned directly by the producer. An externality may be positive or negative , and may result whether from the production or consumption of a product or service

Therefore in the given situation, it is mentioned that the two transaction effect between the person with respect to the third party that is not agreed for the transaction i.e to carrying out So this situation describes externality

d. low interest rates

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know