One Difference Between the Demand for a Private Good and That

question 18

Multiple Choice

One difference between the demand for a private good and that for a public good is that

• A)with a private good, each consumer chooses the quantity she wants to consume but with a public good, each consumer chooses the price she is willing to pay for a fixed quantity.
• B)with a private good, each consumer chooses the quantity she wants to consume but with a public good, everyone consumes the same quantity.
• C)with a private good, each consumer receives different amounts of benefit from consuming the product but with a public good, every consumer realises the same amount of benefit from consuming the product.
• D)the marginal benefit from consuming the last unit of a public good always exceeds the marginal benefit from consuming the last unit of a private good because there are externalities in the consumption of the former.

Recognize the materiality constraint and its application in financial accounting.

Understand the principles of internal control and their importance.

Recognize different forms of cash and cash equivalents.

Comprehend the consequences and requirements of the Sarbanes-Oxley Act (SOX).

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Definitions:

Appreciated

Refers to an increase in value or price of an asset or currency over time.

U.S. Dollar

The official currency of the United States of America and the world's primary reserve currency.

Currency Depreciates

Refers to a decrease in the value of a currency in comparison to other currencies, which can affect international trade and economic balance.

Government Action

Any activity or policy implemented by a government to influence economic, social, or political issues.