Recall the Application About How a Private Good,LoJack,generates External Benefits

question 46

Multiple Choice

Recall the application about how a private good,LoJack,generates external benefits as well as private benefits.Who are the recipients of the external benefits generated by LoJack?

• A)the purchasers of the LoJack system
• B)the producers of the LoJack system
• C)the owners of cars that do not have the LoJack system
• D)the insurance companies that offer discounts to LoJack purchasers

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Definitions:

Initiative Versus Guilt

A stage in Erik Erikson's theory of psychosocial development where children (ages 3-5) develop a sense of initiative and confidence through exploration and decision-making, or may experience guilt for their actions.

Virtue

A characteristic that is considered morally positive and held in high regard as the basis of a virtuous character.

Moral Judgments

Evaluations or decisions about the rightness or wrongness of actions that reflect ethical standards or principles.

Pursue Goals

The act of identifying and working towards achieving specific objectives or aspirations.