If There Are Significant External Benefits Associated with the Production

question 79

True/False

If there are significant external benefits associated with the production or consumption of a good or service, there will be an under-allocation of resources to its production unless some corrective action is taken.

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Definitions:

Compatibility

The ability of two or more entities to exist or work together in harmony without conflict.

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations and marked as one of the deadliest conflicts in history.

Divorce Rates

Divorce rates refer to the statistical measure of the number of divorces that occur in a particular population or society over a specific period of time.

Alcoholism

A chronic condition characterized by an uncontrollable urge to consume alcohol despite adverse consequences.