When Something of Value Has No Price Attached to It

question 376

Multiple Choice

When something of value has no price attached to it,

• A)externalities will be present.
• B)production of the product has no cost.
• C)government should not intervene to produce the product.
• D)private companies will eventually produce the product, and the good will no longer be free.

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Definitions:

Wicked Problems

Large, complex social problems where there is no clear solution; where there is limited, confusing, or contradictory information available; and where a whole range of people with conflicting values engage in debate.

Overpopulation

A condition where an environment's population exceeds the carrying capacity, often leading to environmental degradation and resource depletion.

Life Expectancy

The average period that an individual is expected to live, based on demographic factors such as age, sex, and health conditions.

Earned-Income Activities

The sale of products or services that are used as a source of revenue generation.