Externalities Consist of ___________________

question 16

Multiple Choice

Externalities consist of ___________________.

• A)only external costs
• B)only external benefits
• C)both external costs and external benefits

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Definitions:

Pledge Drives

Fundraising efforts, often conducted by public broadcasting stations, where viewers or listeners are encouraged to make donations to support the station.

Public Good

A product or service that is provided without profit for the benefit of all members of society, such as public parks, clean air, and national defense.

Free Riders

Individuals who benefit from resources, goods, or services without paying for them or contributing to their provision.

Public Goods Dilemma

A situation in which individuals can benefit from a public good without contributing to its cost, leading to potential under-provision or degradation of that good.