Which Statement Explains Why Free Markets Fail to Produce Public

question 301

Multiple Choice

Which statement explains why free markets fail to produce public goods?

• A) Firms do not want to produce the good because they fear competition will drive the price down below costs.
• B) Consumers do not want to buy the good because the price is higher than the value of benefits they would receive.
• C) Firms do not want to produce the good because they believe external costs will eat up their profits.
• D) Consumers do not want to buy the product because each hopes that someone else will buy it and then all consumers will be able to have the product at no personal cost.

Evaluate the effectiveness of various organizational structures in response to dynamic market and technological conditions.

Understand the significance of social networking on communication, job search, and group formation within professional contexts.

Learn the importance of adaptability and flexibility in gaining a competitive edge.

Understand the necessity of employee involvement and commitment in successful change initiatives.

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Definitions:

Seventeenth Century

The century that spanned from January 1, 1601, to December 31, 1700, notable for significant cultural and political developments.

Henry Hudson

A 17th-century explorer who is best known for his explorations of present-day Canada and parts of the northeastern United States, including the river that now bears his name.

Northwest Passage

A sea route connecting the northern Atlantic and Pacific Oceans through the Arctic Ocean, along the northern coast of North America.

British Empire

The British Empire was a global empire marked by overseas colonization, dominion, and influence, making it one of the largest and most powerful empires in history.