Society Would Be Better Off with More Products That Create

question 198

True/False

Society would be better off with more products that create beneficial externalities.

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Definitions:

Social Control

Mechanisms, strategies, and institutions by which societies regulate individual behavior, conforming it to community norms and laws.

Military Repression

The use of military forces to control or put down dissent, opposition, or protests, often resulting in human rights abuses.

Economic Recession

A period of temporary economic decline during which trade and industrial activities are reduced, typically identified by a fall in GDP in two successive quarters.

Economic Depression

An economic depression is a severe and prolonged downturn in economic activity, characterized by significant declines in GDP, high unemployment, and deflation.