Examlex
Use the Permutations Formula
-The matching section of an exam has 5 questions and 7 possible answers. In how many different ways can a student answer the 5 questions, if none of the answer choices can be repeated?
Public Good
A product that one individual can consume without reducing its availability to another individual and from which no one is excluded.
National Defense
The government functions and mechanisms aimed at protecting a country against external aggression, threats, and maintaining sovereignty.
Free Market
An economic system where prices are determined by unrestricted competition between privately owned businesses, without excessive government control or intervention.
Externality
A consequence of an economic activity experienced by unrelated third parties; it can be either positive (beneficial) or negative (harmful).
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