The Figure Given Below Shows the Demand and Supply Curves

question 17

Multiple Choice

The figure given below shows the demand and supply curves of automobiles.Figure 13.3
In the figure,
D: Demand curve of automobiles
S: Supply of automobiles prior to the tax
S+t: Supply of automobiles after the tax

-Figure 13.3 represents a situation of:

• A)positive externality.
• B)Pareto efficiency.
• C)negative externality.
• D)the commons problem.
• E)the free rider problem.

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Definitions:

Emotional Stability

refers to a person's ability to remain calm and composed, effectively managing their emotions in face of stress, pressure, or adversity.

Information Processing

The series of actions or operations that the mind or a computer system undertakes to receive, retrieve, store, and utilize information.

Optimism

A mindset marked by optimism and belief in one's ability to achieve success and a bright future.

Big Five Model

A rephrasing of Big Five Trait; it is a psychological model that classifies human personality into five major dimensions for better understanding and assessment.