Which of the Following Is an Example of a Market

question 126

Multiple Choice

Which of the following is an example of a market failure caused by the existence of a public good?

• A) A levee is not built because no one wants to pay for it, even though everyone agrees that it is important.
• B) We send a chimpanzee to space. You think it would be better if we send a lemur.
• C) We spend $300 billion for national defense. You think it is too much.
• D) McDonald's is your favorite restaurant. Other people think the food they serve is unappealing.

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Definitions:

Safety and Security

Refer to measures and protocols implemented to protect individuals from harm or danger, ensuring physical wellbeing and protection against threats.

Motivated

Having a desire or willingness to act or work towards achieving personal or defined goals.

Self-Actualising

Self-actualising refers to the realization or fulfillment of one's talents and potentialities, especially considered as a drive or need present in everyone.

Mystical Experiences

Profound and often spiritual experiences that provide a sense of unity or oneness with the universe, often altering one's perception and understanding of reality.