Externalities Occur Because

question 92

Multiple Choice

Externalities occur because:

• A)there is idle capital.
• B)there are chronic shortages.
• C)people are greedy.
• D)there are no property rights.

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Definitions:

Individualistic

Pertaining to a social theory favoring freedom of action for individuals over collective or state control.

Collectivistic

A social pattern where individuals prioritize the needs and goals of the group over personal desires or ambitions.

Communalist

A person who advocates or practices communal living or shares a belief in the benefits of communal ownership and control.

Fascist

Describes an authoritarian and nationalistic right-wing system of government and social organization.