A Private Good

question 28

Multiple Choice

A private good

• A)Is consumed by one person and excludes consumption by others.
• B)Experiences free riders.
• C)Results in market failure when provided in markets characterized by laissez faire.
• D)Is provided most efficiently by the government.

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Definitions:

Central Nervous System

The primary command center for the nervous system, consisting of the brain and spinal cord, responsible for processing and sending out instructions.

Hypothalamus

A region of the brain responsible for hormone production and regulation, influencing many critical bodily functions including temperature and hunger.

Fluid

In the context of biology or health, it refers to liquids within the body that play vital roles in its functioning, such as blood, lymph, and interstitial fluids.