In the circular flow model, businesses

Public goods, like national defense, are usually funded through government because

If the production of a product results in harmful externalities, then

The private sector consists of:

With the coronavirus vaccine, your decision to get vaccinated provides not just a benefit to yourself in protecting you from the disease, it also provides substantial benefits to others who you are likely to encounter during the course of your daily activities, protecting them from infection as well. This is an example of

Situations where the market does not work efficiently or does not allocate resources to their highest valued uses are called

Which of the following is considered an externality?

In the second half of the twentieth century, technological change greatly reduced ____ costs, which enhanced globalization.

The Federal Reserve is run by

Partnerships differ from proprietorships because partnerships