When Production of a Good Provides External Benefits, There Will

question 167

Multiple Choice

When production of a good provides external benefits, there will be

• A) too few resources devoted to its production.
• B) too many resources devoted to its production.
• C) the optimal amount of resources devoted to its production.
• D) abnormally high profits earned by producers of the good.

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Definitions:

Information Technology

The use of computers, networking, and software to store, process, and transmit data, as well as to solve problems and create value in various contexts.

Supply Chain Management

The strategic linking of all operations dealing with resource supplies.

Customer Relationship Management

The strategic attempt to build lasting relationships with and to add value to customers.

Information Technology

The study and use of systems for storing, retrieving, and sending information.