You Are on Your Way to School, and a Car

question 143

Multiple Choice

You are on your way to school, and a car pulls out in front of you. Its driver then proceeds to drive 20 miles an hour, slowing down at every bump in the road. Your frustration would be classified as

• A)external and social.
• B)external and nonsocial.
• C)internal and social.
• D)external and personal.

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Definitions:

Private Goods

Goods that are both excludable and rival in consumption.

Industrial Machinery

Machines and equipment designed and used in the manufacturing and production sector.

Factor Of Production

Resources utilized in the creation of goods and services, including land, labor, capital, and entrepreneurship.

Constant Returns To Scale

a condition in production where increasing the inputs by some proportion leads to an increase in output by the same proportion.