In an Unregulated, Competitive Market, Less Than the Efficient Quantity

question 138

Multiple Choice

In an unregulated, competitive market, less than the efficient quantity of education is produced and consumed because

• A) the decisions to produce and consume education are based on marginal private costs and marginal private benefits.
• B) the decisions to produce and consume education are based on marginal social costs and marginal social benefits.
• C) the decisions to produce and consume education are based on marginal private benefits and marginal social costs.
• D) marginal private costs are consistently greater than marginal private benefits.

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Definitions:

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Health Promotion Model

A theoretical framework aiming at explaining and promoting health behaviors by focusing on the influences of individual beliefs and interactions with the social and environmental contexts.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone, the highest level of psychological development.

Triggered

The act of causing an emotional or psychological reaction, often due to past trauma or a specific stimulus.