A Public Good Is a Good

question 22

Multiple Choice

A public good is a good:

• A)that is produced by a government agency.
• B)that, when it is consumed by one decision maker, affects other decision makers in a way not reflected in the market price.
• C)that, when it is consumed by one decision maker, does not reduce the quantity that may be consumed by other decision makers and to which all consumers have access.
• D)that is free.

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Definitions:

Day-To-Day Operations

The routine activities necessary for the ongoing management and functionality of a business or organization.

General Partners

Individuals in a partnership who have unlimited liability and are responsible for the management of the partnership.

Partnership Management

The practice of organizing and coordinating the operations and strategies of a business partnership.

Corporate Affairs

The activities, strategies, and management decisions related to the operation and governance of a corporation.