If the Social Benefit of Consuming a Good or a Service

question 161

Multiple Choice

If the social benefit of consuming a good or a service exceeds the private benefit,

• A)a negative externality exists.
• B)the market achieves economic efficiency.
• C)a positive externality exists.
• D)the sum of consumer surplus and producer surplus is maximised.

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Definitions:

Quality of Hire

A metric used to evaluate the effectiveness of a company's hiring process, measuring the value new employees bring to the company.

Companies

Legal entities formed by individuals, stockholders, or shareholders, with the purpose of engaging in commercial, industrial, or professional activities.

Résumé Format

The organization and layout of a résumé, including the arrangement of sections and information presented.

Skills

The abilities and expertise that individuals acquire through practice and education, enabling them to perform tasks effectively.