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Questions and Answers
Which sector of the economy is owned, financed, and controlled by private individuals?
Which sector of the economy is owned, financed, and controlled by private individuals?
Which characteristic of goods refers to a person being able to be prevented from using it when they do not pay for it?
Which characteristic of goods refers to a person being able to be prevented from using it when they do not pay for it?
Which category of goods is both excludable and rival in consumption?
Which category of goods is both excludable and rival in consumption?
What is a person called who receives the benefit of a good but avoids paying for it?
What is a person called who receives the benefit of a good but avoids paying for it?
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Which method can be used to overcome some of the problems associated with cost-benefit analysis?
Which method can be used to overcome some of the problems associated with cost-benefit analysis?
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Which one of these is an example of a common resource?
Which one of these is an example of a common resource?
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Which one of these is an example of a merit good?
Which one of these is an example of a merit good?
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Which one of these is an example of a negative externality?
Which one of these is an example of a negative externality?
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Which one of these is an example of a private solution to externalities?
Which one of these is an example of a private solution to externalities?
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Which one of these is an example of a market-based policy towards externalities?
Which one of these is an example of a market-based policy towards externalities?
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Which term refers to the tendency of a voter to not seek out information to make an informed choice in elections?
Which term refers to the tendency of a voter to not seek out information to make an informed choice in elections?
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Which term refers to the situation where benefits to a minority special interest group are outweighed by the costs imposed on the majority?
Which term refers to the situation where benefits to a minority special interest group are outweighed by the costs imposed on the majority?
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Which term refers to the agreement between politicians to exchange support on an issue?
Which term refers to the agreement between politicians to exchange support on an issue?
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Which term refers to the situation where individuals or groups take actions to redirect resources to generate income (rents) for themselves or the group?
Which term refers to the situation where individuals or groups take actions to redirect resources to generate income (rents) for themselves or the group?
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Which term refers to the transfer of publicly owned assets to private sector ownership?
Which term refers to the transfer of publicly owned assets to private sector ownership?
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Which term refers to a situation where the allocation of resources in the market is determined in part by political decision-making and favors rather than by economic forces?
Which term refers to a situation where the allocation of resources in the market is determined in part by political decision-making and favors rather than by economic forces?
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Which one of these is an example of a positive externality?
Which one of these is an example of a positive externality?
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Which one of these is an example of a positional externality?
Which one of these is an example of a positional externality?
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Which one of these is an example of a private solution to externalities?
Which one of these is an example of a private solution to externalities?
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Which one of these is an example of a market-based policy towards externalities?
Which one of these is an example of a market-based policy towards externalities?
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Which one of these is an example of government failure?
Which one of these is an example of government failure?
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Which of the following is an example of a public good?
Which of the following is an example of a public good?
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Which term refers to a person who receives the benefit of a good but avoids paying for it?
Which term refers to a person who receives the benefit of a good but avoids paying for it?
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Which category of goods is rival but not excludable?
Which category of goods is rival but not excludable?
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What is the property of a good whereby one person's use diminishes other people's use?
What is the property of a good whereby one person's use diminishes other people's use?
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What is the study that compares the costs and benefits to society of providing a public good called?
What is the study that compares the costs and benefits to society of providing a public good called?
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Which term refers to the situation where resources are redirected to generate income for a specific individual or group?
Which term refers to the situation where resources are redirected to generate income for a specific individual or group?
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What is the term for the transfer of publicly owned assets to private sector ownership?
What is the term for the transfer of publicly owned assets to private sector ownership?
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What is the term for a situation where the allocation of resources in the market is determined by political decision-making and favors rather than economic forces?
What is the term for a situation where the allocation of resources in the market is determined by political decision-making and favors rather than economic forces?
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Which term refers to the tendency of a voter to not seek out information to make an informed choice in elections?
Which term refers to the tendency of a voter to not seek out information to make an informed choice in elections?
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What is the term for the agreement between politicians to exchange support on an issue?
What is the term for the agreement between politicians to exchange support on an issue?
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