Environmental Quality Is Considered to Be a Public Good

question 256

Multiple Choice

Environmental quality is considered to be a public good. This means that

• A) ultimately it is the public that pays for environmental clean-up.
• B) businesses have a responsibility to minimize their environmental pollution.
• C) everyone enjoys a cleaner environment regardless of who pays for it.
• D) society places a higher value on private goods and services.

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Definitions:

Trading Possibilities Curves

A graphical representation illustrating the range of goods or services that two countries can trade with each other under the assumption of no trade barriers.

Production Possibilities Curves

A graphical representation showing the maximum number of goods or services that can be produced with a fixed amount of resources.

Terms Of Trade

The ratio at which a country's exports can be exchanged for imports, a measure of a nation's export prices relative to its import prices.

Feasible Terms

Conditions or parameters that are possible and practical to meet, often used in negotiations or agreements.