Social Conventions Include the Time Taken to Eat a Meal

question 32

True/False

Social conventions include the time taken to eat a meal, the number of meals per day and the degree to which the meal is a social occasion.

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Definitions:

Consumption

The use of goods and services by households or individuals for personal satisfaction or to fulfill their needs.

Artificially Excludable

Describes goods or services from which individuals can be prevented from using unless they comply with certain conditions, despite there being no natural reason for exclusion.

License Fee

A charge paid for obtaining legal permission to carry out a particular activity or to use a particular piece of intellectual property.

Marginal Social Benefit

The additional benefit to society as a whole from the production or consumption of one more unit of a good or service.