A Good Is Path Dependent When

question 173

Multiple Choice

A good is path dependent when

• A)consumers get utility from consuming goods that others are consuming, such as restaurants.
• B)the first technology that was adopted has an advantage over a better technology that came later.
• C)people who move location follow the path of people who moved before them.
• D)it can only be used in one way.

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Definitions:

Somatic Nervous System

Part of the peripheral nervous system that handles voluntary control of body movements through the control of skeletal muscles, and also mediates sensory information.

Peripheral Nervous

Part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord, responsible for connecting the CNS to limbs and organs.

Central Nervous

Pertains to the part of the nervous system consisting of the brain and spinal cord, which integrates information and coordinates all bodily functions.

Knee-Jerk Reflex

A rapid, automatic response to a stimulus, such as a physical tap, that causes the knee to jerk involuntarily.