Which of the Following Is a Key Difference Between the Economic

question 155

Multiple Choice

Which of the following is a key difference between the economic activities of government and those of private firms?

• A) Private firms face the constraint of scarcity; government does not.
• B) Government focuses primarily on equity; private firms focus only on efficiency.
• C) Private economic activities create externalities; government activities do not.
• D) Government has the legal right to force people to do things; private firms do not.

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Definitions:

Quality of Feedback

The effectiveness and usefulness of information or advice given to someone to improve their performance or understanding.

Enhanced Rumination

The process of continuously thinking about the same thoughts, which are often negative or sad, leading to a deeper state of negative thinking.

Decreased Self-consciousness

The reduction in the awareness of oneself or one's actions in the presence of others, often leading to more natural and spontaneous behavior.

Social Relationships

Connections between individuals in a society, structured by social institutions, norms, and values.