Public Goods Are Not Sold in Efficient Quantities in the Marketplace

question 145

Multiple Choice

Public goods are not sold in efficient quantities in the marketplace because:

• A) once supplied to a buyer, they are made available at no cost to someone else.
• B) the more one person has, the less another person has.
• C) they are usually so costly that only the wealthy can afford them.
• D) of none of the above.

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Definitions:

Enslaved Africans

People from Africa who were forcibly taken from their homeland, transported to the Americas, and subjected to a lifetime of slavery.

Spanish Expeditions

Exploratory and military expeditions led by Spain from the 15th to the 17th century, resulting in the expansion of Spanish territory and influence, especially in the Americas.

Manpower

The supply of people available for work or military service.

Negotiations

The process of discussing and arriving at a mutual agreement between parties with differing interests.