An Important Difference Between the Demand for a Private Good

question 144

Multiple Choice

An important difference between the demand for a private good and the demand for a public good is that

• A)individuals reveal their preferences for a public good but they do not have to reveal their preferences a private good.
• B)the resources used to provide public goods are common resources or government owned; the resources used to produce private goods are all privately owned.
• C)individuals reveal their preferences for a private good but they do not have to reveal their preferences for a public good.
• D)the demand for a private good produces consumption externalities; the demand for a public good produces production externalities.

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Definitions:

Protective Factor

Any factor that reduces a person's potential for harmful or risky behavior by providing a buffer against negative influences.

Emergency Alert System

A national public warning system in the United States that enables broadcasting warnings about emergencies and disasters over television, radio, and other communication devices.

Risk Assessment

The process of identifying, analyzing, and evaluating risks, which helps in understanding the potential for adverse effects and in making informed decisions.

Marital History

A record or account of significant events and dynamics in an individual's marriage(s), often discussed in therapeutic or clinical settings.