When the Social Cost of Production Is Greater Than the Private

question 177

Multiple Choice

When the social cost of production is greater than the private cost, we have a

• A)positive externality
• B)negative externality
• C)public good
• D)private good
• E)positive spillover

---

Definitions:

Learning Domain

A category of learning objectives that describe the type of skills or knowledge to be gained, such as cognitive, affective, or psychomotor.

Criminal Justice System

The system of practices and institutions of governments aimed at upholding social control, deterring and mitigating crime, and sanctioning those who violate laws with criminal penalties and rehabilitation efforts.

Reflection Technique

A method involving thoughtful consideration of one's actions and experiences to gain insights and improve future performance.

Learning Contract

is an agreement between a learner and educator outlining specific learning objectives, resources, and evaluation criteria.