What Is the Common Source of Negative Externalities and the Tragedy

question 128

Multiple Choice

What is the common source of negative externalities and the tragedy of the commons?

• A)A lack of clearly defined and enforced property rights
• B)A lack of concern for human rights
• C)A lack of competition
• D)Self-interest motives of consumers and producers

Understand the role and characteristics of entrepreneurship in economic success.

Identify the causes and implications of operating inside or outside the production possibilities frontier.

Discuss the factors leading to economic growth or decline.

Understand the concept of unemployment and its implications on the economy.

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Definitions:

Social Structure

The organized pattern of social relationships and social institutions that together compose society.

Valley Forge

The military camp 18 miles northwest of Philadelphia where the American Continental Army spent the winter of 1777–1778 during the American Revolutionary War, notable for its conditions of hardship and resilience.

Saratoga

A decisive battleground in the American Revolutionary War where the American forces won a significant victory over the British in 1777.

American Troops

Military personnel from the United States, serving in the army, navy, air force, marines, or coast guard.