Externalities Are Minimized If

question 90

Multiple Choice

Externalities are minimized if

• A) private property rights are well established.
• B) the government owns all of the productive resources.
• C) there are no private goods.
• D) there are no public goods.
• E) there are no free-riders.

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Definitions:

Unilateral Mistake

A situation in contract law where only one party to a contract is mistaken about the terms or conditions contained in the contract agreement.

Contract Term

A specific duration or period during which an agreement is effective and enforceable by law.

Mistake

An error in understanding or judgment that can affect the terms or validity of a contract.

Economic Duress

involves the use of unlawful economic pressure to compel a party to act against their will in entering into a contract, impacting the agreement's voluntariness.