The Owner of a Luxury 4WD Enjoys a Positive Externality

question 173

True/False

The owner of a luxury 4WD enjoys a positive externality because the luxury 4WD offers added safety when compared to a small car.

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Definitions:

Overpopulation

A situation where the number of people exceeds the capacity of the environment to support life at a decent standard of living.

Scarcity Of Land

The limited availability of land resources relative to demand, often leading to competition and increased value.

Welfare Systems

Government programs designed to support the well-being of the population by providing assistance for those unable to support themselves financially or otherwise.

Blue-collar Work

Jobs involving manual labor or skilled trades, typically requiring physical effort and not traditionally office-based.