A Collective-Action Problem Is a Situation in Which

question 34

Multiple Choice

A collective-action problem is a situation in which:

• A) people are often reluctant to voluntarily pay for goods and services that provide benefits for everyone, even for those who don't pay.
• B) people are reluctant to voluntarily pay for goods and services because they believe their individual contribution will not make a difference.
• C) a group of people stand to gain from an action that is not rational for any of the members to undertake individually.
• D) a small group of individuals gains power that sways the decisions of society to their personal gain at the expense of the larger society.

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Definitions:

Specification Review

The process of examining technical descriptions and requirements of a project or product to ensure they meet certain standards.

Need Recognition

The beginning of the consumer decision process; occurs when consumers recognize they have an unsatisfied need and want to go from their actual, needy state to a different, desired state.

B2B Buying Process

The steps that businesses go through when purchasing products or services from another business, from recognition of need to the final purchase.

B2C Buying Process

The series of steps that a consumer goes through when deciding to purchase a product or service from a business directly.