A Government-Inhibited Good Is a Good Which

question 145

Multiple Choice

A government-inhibited good is a good which

• A) is not subject to the principle of mutual exclusivity.
• B) the political process has deemed socially undesirable.
• C) can be consumed by one individual without affecting the consumption of another individual.
• D) the political process has deemed socially desirable.

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Definitions:

Demand for Insulin

The requirement or need for insulin, a vital hormone used in the treatment of diabetes, by patients or healthcare providers.

Large Screen TV

A type of television with a screen size typically larger than 55 inches, popular for enhancing viewing experiences.

More Inelastic

Describing a situation where the demand for a good or service is less sensitive to changes in price, indicating consumers are less likely to reduce their quantity demanded as the price increases.

Elastic Demand

A situation in which the quantity demanded of a good or service significantly changes in response to a change in price.