Which of the Following Is the Best Example of a Public

question 9

Multiple Choice

Which of the following is the best example of a public good as defined in your text?

• A)Cable television
• B)Day care
• C)Radio broadcasts
• D)Medical care
• E)Disneyland

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Definitions:

CFR

An abbreviation for "Code of Federal Regulations," which is a collection of the general and permanent rules published in the Federal Register by the departments and agencies of the Federal Government.

FOB

Free on Board, a shipping term used to indicate whether the seller or buyer is responsible for goods damaged or destroyed during shipping.

Excess Capacity

A situation where a business produces less than it is actually capable of because there is not enough demand for its product or service.

Output Contract

A legal agreement in which a seller agrees to sell all the production to a particular buyer, who in turn agrees to purchase the entire output.