The Market Works Efficiently in the Absence of Externalities If

question 39

Multiple Choice

The market works efficiently in the absence of externalities if the good is

• A) rival and excludable.
• B) nonrival and nonexcludable.
• C) rival and nonexcludable.
• D) nonrival and excludable.
• E) rival and either excludable or nonexcludable.

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Definitions:

Special Journal

A ledger used in accounting to record and categorize similar types of transactions for efficiency.

Special Journal

A specialized accounting journal dedicated to recording a specific type of transaction, such as sales or purchases, for efficiency.

Total Individually

Calculating or assessing each item on its own, then summing them up for a total figure, often used in accounting or inventory management.

Sales Journal

A dedicated bookkeeping ledger designed for noting every credit sales transaction a business conducts.