Table 11-3 -For All Types of Goods That Are Not Private Goods

question 98

Essay

Table 11-3

-For all types of goods that are not private goods, the market fails to allocate resources efficiently because _________________.

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Definitions:

Species Diversity

A measure of the variety of species present in a particular ecosystem, including both the number of different species and their relative abundance.

Genetic Diversity

Variety among members of a population.

Ecosystem Interactions

These are the dynamic relationships and exchanges between organisms and their environment within an ecosystem, including predation, competition, and mutualism.

Pollution

Any environmental change that adversely affects the lives and health of living organisms.