There Is a Famous Neuropsychological Example in Which Phineas Cage,a

question 52

Multiple Choice

There is a famous neuropsychological example in which Phineas Cage,a railroad foreman,accidentally had a tamping rod shoot from under his chin through his skull damaging his frontal lobe.Which of the following is most likely to have changed for Phineas after the accident?

• A)his personality
• B)his sense of touch
• C)his ability to recognize objects
• D)his hearing

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Definitions:

Market Failure

Market failure occurs when the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.

Economic Efficiency

A situation in which resources are used in a way that maximizes the production of goods and services at the lowest cost.

Ideal Economic Efficiency

A situation in which resources are allocated in a way that maximizes the net benefit to society.

Market Failure

Refers to a situation where the allocation of goods and services by a free market is not efficient, often leading to negative externalities.