ECONOMICS
TECHNOLOGY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
stockholders
|
|
|
private corporations
|
|
|
governments
|
|
|
referendums
|
Detailed explanation-1: -For which of the following reasons does the free market fail to adequately provide public goods? There is very little incentive for individuals to pay for, or businesses to provide, nonexclusive services.
Detailed explanation-2: -A public good is a shared good or service for which it would be inefficient or impractical to make consumers pay individually and to exclude those who do not pay.
Detailed explanation-3: -In a command economy, the government owns the factors of production; all decisions about land, labor, and capital are made by the state.
Detailed explanation-4: -Traditional Economy: A system which families, clans, or tribes make economic decisions based on customs and beliefs that have been handed down from generation to generation.