When the Social Cost of Production Is Greater Than the Private

question 177

Multiple Choice

When the social cost of production is greater than the private cost, we have a

• A)positive externality
• B)negative externality
• C)public good
• D)private good
• E)positive spillover

---

Definitions:

U.S. Soldiers

Members of the United States Armed Forces, particularly the Army, who serve and protect the country through military service.

World War I

A major international conflict from 1914 to 1918, involving many of the world's nations, including all of the great powers, eventually forming two opposing military alliances: the Allies and the Central Powers.

Alien and Sedition Acts

A series of laws passed in 1798 by the Federalist Congress aimed at protecting the United States from foreign influence and sedition, criticized for restricting freedom of speech.