Public Goods Represent ________ Because by Their Very Nature They

question 240

Multiple Choice

Public goods represent ________ because by their very nature they are nonexcludable and nonrival which makes it difficult for the private sector to supply them profitably.

• A) a positive externality
• B) a negative externality
• C) a market failure
• D) efficient production

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Definitions:

Freedom of Speech

The right to express one's opinions without censorship, restraint, or legal penalty, a fundamental principle of democratic societies protected by laws and constitutions.

Eighteenth-century British America

Refers to the British colonies in North America during the 1700s, a period marked by economic growth, colonial conflicts, and steps towards independence.

Seven Years' War

Spanning from 1756 to 1763, this significant global altercation involved the key powers of the time and had an impact on Europe, North America, Central America, the West African coast, India, and the Philippines.