Something That Must Be Supplied by the Government Because It

question 26

Multiple Choice

Something that must be supplied by the government because it cannot be provided by the marketplace is called

• A) a public good.
• B) a commodity.
• C) a governmental appropriation.
• D) pork.
• E) public option.

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Definitions:

Availability Heuristic

A quick-thinking process that depends on the first examples that pop into someone's head when they are considering a particular subject, idea, approach, or choice.

Relative Comparisons

The act of evaluating something in relation to another similar item.

Availability Heuristic

A cognitive shortcut that relies on the immediate examples that come to a person’s mind when evaluating a specific topic, concept, method or decision.

Representative Heuristic

A mental shortcut that involves making a probability judgement by comparing an object or event to a prototype of the object or event.