One of the Reasons That Pollution Problems Are as Large

question 154

Multiple Choice

One of the reasons that pollution problems are as large as they are is that

• A)markets let individuals and firms deplete valuable resources without charging money for doing so.
• B)markets are incapable of incorporating valuable resources such as air and pure water.
• C)governments use resources without paying for them the way that individuals and firms must.
• D)markets are not an efficient means to address scarcity.

Interpret diagrams related to anatomy and physiology, specifically those depicting circulatory and immune systems.

Explain the role and characteristics of plasma and plasma proteins in blood.

Describe the process of blood clotting and the factors that contribute to or inhibit coagulation.

Understand the mechanisms of blood vessel regulation, including vasoconstriction and vasodilation.

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Definitions:

External Costs

Costs that are not borne by the parties involved in an economic transaction but by other individuals or society at large.

Auto Pollution

Auto pollution refers to the emissions generated by motor vehicles that contribute to air pollution.

Equilibrium Price

Equilibrium price is the price at which the quantity of a good demanded equals the quantity supplied, thus no surplus or shortage exists.

Adverse Selection

A situation in which sellers have information that buyers do not (or vice versa) leading to transactions that favor the party with more information.