Externalities Are Fundamentally the Result of

question 96

Multiple Choice

Externalities are fundamentally the result of

• A) the absence of competition in a market.
• B) the lack of well-defined or enforced property rights.
• C) poor information on the part of consumers.
• D) the presence of significant comparative advantages in production.

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Definitions:

Operant Conditioning

Learning procedure in which the consequences (such as obtaining a reward) of a particular behavior (such as pressing a bar) increase or decrease the probability of the behavior occurring again; also called instrumental conditioning.

Reward Good Behavior

The process of positively reinforcing desired actions or conduct by offering incentives or praise, often used in training and behavior modification.

Extra Recess

Additional break time given to students during the school day, beyond the regular scheduled recess, for physical activity, relaxation, or social interaction.

Eyeblink Conditioning

Experimental technique in which subjects learn to pair a formerly neutral stimulus with a defensive blinking response.