When a Consumer Wants to Own a Unique Good Because

question 30

Multiple Choice

When a consumer wants to own a unique good because "no one else has it," what is this an example of?

• A) switching costs, which are negative externalities
• B) the snob effect, which is a negative externality
• C) network benefits, which are positive externalities
• D) the bandwagon effect, which is a positive externality

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Definitions:

Nonmaleficence

The ethical principle of doing no harm and preventing harm to others.

Beneficence

The ethical principle that emphasizes acting in the best interests of others, promoting good actions and minimizing harm.

Equal Distribution

The equitable allocation of resources, benefits, or responsibilities among all members of a society or group.

Interest in Existing

The inherent value or concern accorded to the state of being alive or existence itself.