Asked by
Kelli Phelps
on Nov 05, 2024Verified
The whole class of goods that will be underproduced or not produced at all in a completely unregulated market economy are referred to as
A) free goods.
B) Pareto goods.
C) private goods.
D) public goods.
Public Goods
Goods that are non-rivalrous and non-excludable, meaning they can be used by everyone without preventing others from using them too.
Unregulated Market
A market where economic activities are not controlled by government policies or restrictions.
- Recognize the role of public goods and the problem of underproduction in a free-market economy.
Verified Answer
AS
Learning Objectives
- Recognize the role of public goods and the problem of underproduction in a free-market economy.