If a Good Gives Rise to Substantial External Benefits to Society

question 82

True/False

If a good gives rise to substantial external benefits to society that are associated with its production and/or consumption then the good likely has too few resources devoted to its production.

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Definitions:

Smoke

The visible vapor and gases given off by a burning substance, often containing particulate matter.

Vitamin D

A fat-soluble vitamin crucial for the regulation of calcium and phosphorus in the body, important for maintaining healthy bones.

Rickets

A disease of the bones primarily due to the deficiency of vitamin D.

Tactile

Relating to the sense of touch.