If a Good Is Subject to the Free-Rider Problem and an Inefficiently

question 202

Multiple Choice

If a good is subject to the free-rider problem and an inefficiently low level of production when left to the private market,the good must be a(n) :

• A)private good.
• B)public good.
• C)illegal good
• D)artificially scarce good.

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Definitions:

Perspective

A particular attitude towards or way of regarding something; a point of view.

Reasoning Process

The mental operation of logically thinking through ideas and making conclusions.

Cognitive Development

The process by which a person's ability to think, understand, and learn evolves over the course of their life.

Moral Orientation

An individual's or group's perspective on what is considered moral or ethical.