When Misallocation of Resources for Production of a Good Results

question 146

Multiple Choice

When misallocation of resources for production of a good results in spillover effects on third parties, there is a

• A) market failure.
• B) government failure.
• C) legislative failure.
• D) productive failure.

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Definitions:

Behaviorism

A theory of learning which states that all behaviors are acquired through conditioning, emphasizing the role of environmental factors in shaping behavior.

World War II

A global conflict that occurred from 1939 to 1945, involving most of the world's nations and marked by significant events and atrocities, including the Holocaust.

Higher Needs

In Maslow's hierarchy, these are psychological needs relating to self-fulfillment, such as self-actualization and esteem needs, considered more complex than basic physiological or safety needs.

Actual Survival

The real, physical continuation of life or existence, especially under adverse conditions.