The Free Rider Problem Occurs

question 4

Multiple Choice

The free rider problem occurs:

• A)when externalities are unaccounted for.
• B)for both exclusive and non-exclusive goods.
• C)when a governmental body intervenes in the workings of a private market.
• D)a consumer consumes a good that others pay for but pays nothing herself.

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Definitions:

Will

A document directing how and to whom the maker’s property and obligations are to be transferred on his or her death.

Validity

The quality of being logically or legally sound; in legal documents, it refers to the document's enforceability and compliance with the law.

Locating Heirs

The process of identifying and locating individuals who are entitled to inherit from the estate of a deceased person under the laws of intestacy or a will.

Copyright Law

The branch of intellectual property law that protects original works of authorship, such as books, music, and art.