Every Year Before He Puts His Boat in the Water

question 96

Multiple Choice

Every year before he puts his boat in the water, James has his mechanic put a new battery in the boat. James is probably concerned with __________ risk.

• A) psychological
• B) financial
• C) performance
• D) social
• E) physiological

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Definitions:

Marginal Benefits

The additional satisfaction or utility a consumer receives from consuming an additional unit of a good or service.

Pollution Emissions

The release of pollutants into the environment, often as a byproduct of industrial operations, transportation, and other human activities, contributing to environmental degradation.

External Costs

Costs that are not borne by the parties involved in an economic transaction but are instead imposed on others or society.

Government Activities

Actions and operations conducted by the government including lawmaking, regulation, and public services.