Governments Usually Build Highways Because It Is Difficult to Exclude

question 117

Multiple Choice

Governments usually build highways because it is difficult to exclude individuals who don't pay for the highways from using them.What type of market failure is involved?

• A)Inequity.
• B)Public goods.
• C)Externalities.
• D)Market power.

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Definitions:

Married-Couple Households

Households that consist of a husband and wife living together, with or without children, and recognized legally or socially as a family unit.

Children Under Age

Individuals who have not yet reached the legal age of majority or adulthood, often requiring parental or guardian care and supervision.

Macro-Level Influences

Factors that affect societies or large groups of people, including cultural, economic, and political variables that shape collective experiences and behaviors.

Technological Innovations

New and improved tech-based solutions or products that significantly alter how industries, businesses, or daily life operations perform.