Public Goods Are Those That Are Consumed

question 40

Multiple Choice

Public goods are those that are consumed:

• A)​only by those who have paid for them.
• B)​only by the government that provides them.
• C)​by the private group that funds them.
• D)​by the paying and nonpaying public alike.

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Definitions:

Mercantilism

An economic theory and practice that promotes government regulation of the nation's economy to increase state power at the expense of rival national powers.

Trade Surplus

A situation where a country's exports exceed its imports over a given period.

Sovereign Country

An independent state that possesses full self-government and is not controlled by another state.

Porter's Diamond Model

A framework for analyzing the competitive advantage nations or regions possess due to four key factors: factor conditions, demand conditions, related and supporting industries, and firm strategy, structure, and rivalry.