Without Government Intervention,society Is Likely to Get Too Little Production

question 12

Multiple Choice

Without government intervention,society is likely to get too little production of:
i.private goods that generate external costs
ii.private goods that generate external benefits
iii.public goods

• A) (i) only
• B) (ii) only
• C) (iii) only
• D) both (ii) and (iii)

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Definitions:

Nonvolatile Liquids

Liquids that have low vapor pressures at room temperature and do not readily evaporate into the atmosphere.

Attraction

The force that draws particles together, responsible for the interactions between atoms and molecules.

Crystalline Polymers

Polymers with a highly ordered molecular structure, leading to sharp melting points and often high degrees of strength and rigidity.

Thermoplastics

A type of plastic material that becomes moldable above a specific temperature and solidifies upon cooling, allowing for easy reshaping.