When People Cannot Be Excluded from Consuming a Good,even If

question 72

Multiple Choice

When people cannot be excluded from consuming a good,even if they have not paid for the good,competitive markets would

• A) produce more of the good than society needs.
• B) allocate more resources than the efficient amount to the production of the good.
• C) produce the good so that people could enjoy a "free ride."
• D) produce less than the efficient quantity.
• E) eliminate the deadweight loss.

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Definitions:

Personality

The mix of traits or attributes that create a person's unique personality.

Unconscious

The part of the mind that is inaccessible to the conscious mind but that affects behavior and emotions.

Ego

In psychoanalytic theory, the part of the personality that mediates between the demands of the id, the superego, and the external world.

Ego

In psychoanalytic theory, the part of the personality that mediates between the desires of the id and the constraints of the superego and reality, playing a key role in decision making and behavioral regulation.