Negative Externalities and the Tragedy of the Commons Are Problems

question 92

Multiple Choice

Negative externalities and the tragedy of the commons are problems that have a common source.What is this common source?

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

Learn how to enter transaction information using onscreen forms in QuickBooks.

Understand the concept of double-entry accounting and how it is implemented in QuickBooks transactions.

Recognize the different lists available in QuickBooks and their purpose, including Customer List, Vendor List, and Item List.

Familiarize with the QuickBooks Home Page layout and where to access various forms and transactions.

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Definitions:

Marginal Social Benefit

The additional benefit to society from the production or consumption of one more unit of a good.

Immunize

To provide protection against a disease through vaccination or to safeguard an investment against interest rate fluctuations.

Government Intervention

Actions taken by a government to affect the economy, which can include regulations, subsidies, tariffs, and direct provision of goods and services.

Marginal External Benefit

Increased benefit that accrues to other parties as a firm increases output by one unit.