What Is an Important Difference Between the Demand for a Private

question 55

Multiple Choice

What is an important difference between the demand for a private good and the demand for a public good?

• A)Individuals reveal their preferences for a public good, but they do not have to reveal their preferences a private good.
• B)The resources used to provide public goods are common resources or government owned; the resources used to produce private goods are all privately owned.
• C)Individuals reveal their preferences for a private good, but they do not have to reveal their preferences for a public good.
• D)The demand for a private good produces consumption externalities; the demand for a public good produces production externalities.

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Definitions:

Federal Government

The national government of a federated state, responsible for the country's political authority and realization of its laws.

Corporate World

A term referring to the business sector, encompassing companies, corporations, and their activities, cultures, and influence in the economy.

Progressive Era's Reform Measures

A period of widespread social activism and political reform across the United States, from the 1890s to the 1920s, aimed at addressing issues caused by industrialization, urbanization, immigration, and corruption.

Federal Government

The national government of a federal country, such as the United States, which has specific powers delegated to it by a constitution.