A Collective Good Is

question 51

Multiple Choice

A collective good is

• A) a concept of a person profiting from the activities of others without participating in those activities.
• B) the view that the costs of large groups collectively organizing are high and the benefits to individual members are relatively low.
• C) any benefit that if available to one member of the community cannot be denied to any other, regardless of whether he or she bore any of the costs of providing it.
• D) a conception of bureaucratic policymaking in which it is dominated by congressional committees, interest groups, and bureaucratic agencies.

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Definitions:

Objective Theory

A legal principle stating that the intent in creating a contract is determined by the reasonable interpretation of the parties' actions and statements rather than individual subjective intentions.

Outward Manifestations

Refers to the actions or expressions by parties in a contract that show their intention to enter into the agreement.

Contract Law

The branch of law dealing with the formation, performance, and enforcement of agreements between parties.

Consideration

Something of value exchanged between parties in a contract, making the agreement legal and binding.