The Social Cost of Cutting Trees for Firewood in a Government

question 63

Multiple Choice

The social cost of cutting trees for firewood in a government forest is

• A)the increased likelihood of flooding as more trees are cut.
• B)the increased likelihood of flooding as more trees are cut plus the private cost of cutting the trees.
• C)opportunity cost to the individual of cutting the wood.
• D)the marginal costs of cutting the last tree.

Understand the concept and characteristics of public goods, including non-excludability and non-rivalry in consumption.

Recognize the free rider problem and its impact on the provision of public goods.

Comprehend the reasons behind government intervention in providing public goods.

Identify and explain externalities and their effects on market outcomes.

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Definitions:

National Defense Education Act

A U.S. federal law passed in 1958 that funded education programs in the sciences, mathematics, and modern languages, to ensure the nation had enough skilled professionals.

Academic Plans

Structured outlines or roadmaps developed to guide students through their academic careers, ensuring they meet all requirements for graduation.

Volunteer Activities

Unpaid activities where individuals offer their time and skills for the benefit of others or the community, often providing valuable experiences for career exploration.

Work Habits

Regular practices or behaviors related to how one performs their job or tasks.