If the Social Benefit of Consuming a Good or a Service

question 161

Multiple Choice

If the social benefit of consuming a good or a service exceeds the private benefit,

• A)a negative externality exists.
• B)the market achieves economic efficiency.
• C)a positive externality exists.
• D)the sum of consumer surplus and producer surplus is maximised.

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Definitions:

Social Media

Platforms that enable users to create and share content or to participate in social networking.

Contemporary Business

Contemporary business refers to the current state and practices of business, including trends, technologies, and methodologies relevant today.

Social Networks

Platforms or communities where individuals can connect, share, and interact with each other online.

Private Network

A network designed for the exclusive use of one organization or individual, not accessible by the general public.