A Market Is Unlikely to Provide an Efficient Quantity of Public

question 89

Multiple Choice

A market is unlikely to provide an efficient quantity of public goods because

• A) only the government has the vast resources necessary to produce public goods.
• B) the nature of public goods makes it difficult for producers to withhold them from nonpaying consumers.
• C) the technology involved in the production of public goods makes it difficult for private firms to produce them even though they could be produced efficiently.
• D) private production of public goods generally results in a large amount of profit, which is difficult for a firm to effectively pay out to shareholders.

Analyze the conditions and warranties implied by the Sale of Goods Act.

Understand the remedies available for breach under the Sale of Goods Act.

Comprehend how title and risk of loss are transferred in sales of goods.

Grasp the legal consequences of exemption clauses in sale of goods contracts.

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Definitions:

Ohmic Value

The resistance value of an electrical component measured in ohms, indicating how much it resists the flow of electric current.

Tolerance

The allowable deviation in the value of a component or system from its specified value, often expressed as a percentage.

Metal Film

A type of resistor that uses a thin metal film as the resistive element to provide stability and accuracy.

Ceramic Rod

A rod made of ceramic material, often used in applications requiring high temperature resistance or electrical insulation.