When a Good Is Not Excludable and Rival in Consumption

question 46

Multiple Choice

When a good is not excludable and rival in consumption:

• A)the free rider problem may arise.
• B)the tragedy of the commons may arise.
• C)the good is likely a private good.
• D)the good is likely a common resource.

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Definitions:

Holocaust

The genocide of approximately six million European Jews during World War II, as part of a systematic extermination plan orchestrated by Nazi Germany.

Authority

Legitimate, institutionalized power.

Conformity

The act of aligning one's attitudes, beliefs, and behaviors with those of a group or society's standards or norms.

Asch's Research

Research conducted by Solomon Asch that focused on conformity, demonstrating how social pressure can influence individuals to conform to incorrect answers in a group setting.