If Consumption of a Good by One Person Imposes Costs

question 91

Multiple Choice

If consumption of a good by one person imposes costs on a party other than the producer,

• A)the consumption creates a positive externality
• B)the good is a public good
• C)the consumption creates a negative externality
• D)too little of the good is produced from society's point of view
• E)the market will correct the problem if left alone

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Definitions:

Disavow Prejudice

The act of denying or renouncing any prejudiced beliefs or attitudes one might hold.

Anglo Saxon Protestants

A social group historically associated with the white, Protestant, largely upper-class segment of the population in the United States, often abbreviated as WASP.

WASPs

An acronym for White Anglo-Saxon Protestants, often referring to a socio-economic and cultural elite in the United States.

Assimilation

The process by which individuals or groups adopt the culture, customs, and values of another group, losing their original identity.