If the Social Benefit of Consuming a Good or a Service

question 31

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 maximized.

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Definitions:

Qualified Replacement

A person who possesses the necessary skills, experience, and qualifications to fill a vacant position effectively.

Resistance

Opposition or pushback encountered when introducing changes, innovations, or new ideas.

Climate Of Distrust

An environment characterized by skepticism and suspicion among individuals or groups, often leading to a lack of collaboration and openness.

External Dependencies

The reliance by an entity, such as an organization, on external resources or inputs (material, financial, informational) that it does not directly control, influencing its operations and outcomes.