Externalities Are Minimized If

question 90

Multiple Choice

Externalities are minimized if

• A) private property rights are well established.
• B) the government owns all of the productive resources.
• C) there are no private goods.
• D) there are no public goods.
• E) there are no free-riders.

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Definitions:

Efficiency

The ratio of the output obtained to the input used in the production process, measuring how well resources are utilized.

Gantt Charts

A type of bar chart that illustrates a project schedule, showing the start and finish dates of the various elements of a project.

Loading Jobs

The process of assigning work to resources, machines, or workstations in a production environment.