Which of the Following Statements Is Not Correct

question 113

Multiple Choice

Which of the following statements is not correct?

• A)A free rider is a person who benefits from something for which he or she does not have to pay.
• B)The creation of general knowledge is a public good.
• C)The Tragedy of the Commons illustrates the underuse of a common resource.
• D)A gasoline tax is an imperfect solution to the problem of traffic congestion on public roads.

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Definitions:

Effective Acceptance

The expression of assent to the terms of an offer in a manner requested or authorized by the offeror, resulting in a binding contract.

Firm Offer

An offer in a contract that is expressed in a way that it cannot be revoked for a certain period of time.

Merchant

An individual or business entity engaged in the trade of goods, services, or both, to consumers.

Bilateral Contract

A mutual agreement between two parties where each promises to perform an act in exchange for the other party's act.