5. Markets tend to over allocate resources to the production of a good when A) t

Question

5. Markets tend to over allocate resources to the production of a good when A) there are negative externalities. B) there are positive externalities. C) the internal costs are greater than the external costs. D) the external benefits are greater than the internal benefits.

6. Efficiency means A) resources are distributed in a fair manner. B) all material wants are satisfied. C) the production of one good cannot be increased without decreasing the production of another good. D) a country is producing more output than another country.

Explanation / Answer

Ans-4) B) Same as th edemand curve

Ans-5)D) the external benefits are greater than the internal benefits.

Ans-6)C) the production of one good cannot be increased without decreasing the production of another good.

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