When the Benefits of an Activity Are Received by Those

question 55

Multiple Choice

When the benefits of an activity are received by those who are not directly involved in it:

• A)a negative externality exists.
• B)the government is producing a free good.
• C)the society has to bear the burden of that particular activity.
• D)the government has to compensate for the loss in social welfare.
• E)a positive externality exists.

Analyze scenarios to determine the existence and sufficiency of contract consideration.

Differentiate between liquidated and unliquidated debts in terms of agreement enforcement.

Recognize exceptions to general contract principles such as the preexisting duty rule and their application in specific contexts.

Understand the concepts of liquidated and unliquidated debts.

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Definitions:

Intergroup Conflict

A situation where members of different groups experience friction, opposition, or even hostility, often fueled by competition for resources or differences in values.

Theories

Systematically organized principles designed to explain and predict phenomena, based on observation, experimentation, and reasoning.

Stereotypes

Oversimplified and widely held beliefs or opinions about the characteristics, attributes, and behaviors of members of a particular group.

Intergroup Conflict

Disagreement or confrontation between different groups, often arising from competition for resources or fundamental differences in values and beliefs.