If an External Cost Is Present in a Market, Economic

question 209

Multiple Choice

If an external cost is present in a market, economic efficiency may be enhanced by:

• A) increased competition.
• B) weakening property rights.
• C) better informed market participants.
• D) government intervention.

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Definitions:

Music

An art form and cultural activity that involves organizing sound through elements like rhythm, melody, harmony, and timbre.

Hierarchy Of Needs

A theory proposed by Abraham Maslow that ranks human needs in a hierarchy, suggesting that individuals are motivated to fulfill basic needs before moving on to higher-level needs.

Belongingness

The human emotional need to be an accepted member of a group, whether it is family, friends, or co-workers.

Esteem Needs

Maslow's hierarchy of needs level, where individuals seek respect, self-esteem, recognition, and success to feel valued and fulfilled.