A Market Is Unlikely to Provide an Efficient Quantity of Public

question 89

Multiple Choice

A market is unlikely to provide an efficient quantity of public goods because

• A) only the government has the vast resources necessary to produce public goods.
• B) the nature of public goods makes it difficult for producers to withhold them from nonpaying consumers.
• C) the technology involved in the production of public goods makes it difficult for private firms to produce them even though they could be produced efficiently.
• D) private production of public goods generally results in a large amount of profit, which is difficult for a firm to effectively pay out to shareholders.

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Definitions:

Geographic Range

Geographic range refers to the spatial area over which a species is known to occur, encompassing its natural habitat and distribution limits.

Population

A group of individuals of the same species living in the same area at the same time, capable of interbreeding.

Horizontal Gene Transfer

The (nonsexual) lateral transfer of genetic material from one genome to another within a species or from one species to another species at any taxonomic level, including from a species in one domain to a species in another domain. Compare with vertical gene transfer.

Gene Swapping

The exchange of genetic material between different organisms, leading to genetic variation, often seen in bacteria through horizontal gene transfer.