In the Case of a Good That Has No Exclusion

question 73

Multiple Choice

In the case of a good that has no exclusion and no rivalry,private markets fail because

• A) of free-ridership.
• B) this is a natural monopoly.
• C) profit is driven down to zero.
• D) the quantity produced will exceed the social optimum.

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Definitions:

Internal Locus Of Control

The belief that one's actions and efforts directly influence the outcomes and events in their life.

Growth Need Strength

The intrinsic desire or motivation of an individual to achieve personal development or fulfill their potential.

Job Satisfaction

The level of contentment and positive feelings an individual has towards their job, often influenced by factors like work environment and personal achievements.

Halo Effect

A cognitive bias that causes one's impression of a person, brand, or product in one domain to positively influence one’s evaluation in other domains.