An Important Difference Between the Demand for a Private Good

question 144

Multiple Choice

An important difference between the demand for a private good and the demand for a public good is that

• 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:

Intellectual Assets

Intangible resources and knowledge that a company possesses, which can include patents, trademarks, business methodologies, and other forms of intellectual property that provide a competitive advantage.

Strategic Force

Denotes a military or organizational capability designed and utilized to achieve strategic objectives, often involving long-range or significant impact operations.

Decision-Making Process

A systematic approach to making choices among possible options to achieve a desired outcome.

Effective Decision Maker

An individual who excels in making choices by identifying and considering all possible options and outcomes, leading to the best possible solution.