Which of the Following Is Most Likely a Private Good

question 71

Multiple Choice

Which of the following is most likely a private good?

• A)Cars.
• B)National defense.
• C)Sidewalks.
• D)The administration of justice.

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Definitions:

Programmed Decisions

Decision-making processes that are routine and repetitive, often automated or guided by established policies and procedures.

"If-then" Decision Rules

Logical constructs used in decision-making that trigger specific actions if certain conditions are met.

Framing Error

A cognitive bias where information is perceived and interpreted through a subjective lens, potentially leading to misconceptions.

Prejudice

A preconceived opinion or judgment towards people or ideas without sufficient knowledge, fairness, or reason, often based on stereotypes.