For a Non-Economist, Marginal Means

question 61

Multiple Choice

For a non-economist, marginal means:

• A) incremental.
• B) unimportant.
• C) level or size.
• D) scarcity.
• E) inferior.

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Definitions:

Public Goods Dilemma

A situation in which the consumption of a good by one individual does not reduce its availability to others, leading to potential overuse or depletion.

Fads

Interests or practices followed enthusiastically for a relatively short period of time.

Fashion

The widespread custom or style of behavior and appearance at a particular time or in a particular place.

Free Rider

A term used in economics and political science to describe individuals who benefit from resources, goods, or services without paying for them or contributing to their provision.