When People Cannot Be Excluded from Consuming a Good,even If

question 72

Multiple Choice

When people cannot be excluded from consuming a good,even if they have not paid for the good,competitive markets would

• A) produce more of the good than society needs.
• B) allocate more resources than the efficient amount to the production of the good.
• C) produce the good so that people could enjoy a "free ride."
• D) produce less than the efficient quantity.
• E) eliminate the deadweight loss.

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Definitions:

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a disdain for other groups.

Exclusionary Policies

Rules or practices designed to intentionally or unintentionally exclude certain groups or individuals.

Stereotypes

Stereotypes are oversimplified and generalized beliefs about a particular group of people or things, which often do not consider individual differences.

Self-fulfilling Prophecies

Expectations about a situation or person that lead to actions which cause the expectations to come true.