The Kerner Commission _____

question 18

Multiple Choice

The Kerner Commission _____.

• A)advocated two-way symmetry
• B)established basic employee rights
• C)criticized U.S.media for their lack of minority journalists
• D)restricted government public relations
• E)established investor relations regulations

Recognize and explain the issue of overuse and underprovision in relation to common resources and public goods, respectively.

Understand the concept of public goods and how they differ from private goods.

Grasp why public goods lead to market failure when provided through the private market.

Identify examples of public goods and common resources.

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Definitions:

Marginal Product

The increase in output that arises from an additional unit of input.

Customers Served

The number or segment of clients to whom a business has provided goods or services.

Marginal Products

The additional output that results from using one more unit of a particular input, holding all other inputs constant.

Sales Clerks

Employees in retail stores responsible for assisting customers, conducting transactions, and maintaining the arrangement of goods.