A good that is provided by governments because it generates external economies is called a Group of answer choicescollective goodpositive goodexternal goodmerit good

Some groups pursue collective goods. A collective good is one thatGroup of answer choicescannot be selectively granted or denied to individuals; it belongs to all.is provided by a public service organization.is secured by the president.is secured by Congress.None of these answers are correct.

When production of a good creates an external benefit,Group of answer choicesthere is a positive externality.it results in the tragedy of the commons.there is a negative externality.a club good is being produced.too much of the good is being produced.

In the case of a negative                externality, there’s                of a good, resulting in a                to society, which might be remedied by imposing a                on the good.Group of answer choicesconsumption; overconsumption; loss; taxproduction; overconsumption; gain; taxproduction; overproduction; loss; subsidyconsumption; underconsumption; loss; tax

If the social benefit of consuming a good or a service exceeds the private benefit,Group of answer choicesthe market achieves economic efficiency.a negative externality exists.a positive externality exists.the sum of consumer surplus and producer surplus is maximised.

What type of good is typically bought with little planning and effort?Group of answer choicesUnsought goodsSpecialty goodsConvenience goodsShopping Goods