The Market Fails When Positive Externalities Exist Because Society Overproduces

question 3

True/False

The market fails when positive externalities exist because society overproduces goods with positive externalities.

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Definitions:

Peripheral Nervous

refers to the part of the nervous system that lies outside the central nervous system, comprising nerves and ganglia, responsible for relaying information to and from the body and brain.

Endocrine

Relates to the system of glands that release hormones directly into the bloodstream to regulate various bodily functions, including growth, metabolism, and mood.

Spinal Cord

A long, thin, tubular structure made up of nervous tissue, which extends from the medulla oblongata in the brainstem to the lumbar region of the vertebral column.

Autonomic Nervous System

A part of the nervous system responsible for controlling involuntary bodily functions such as heartbeat and digestion.