________ is a form of market failure which refers to an action of an individual or organization that affects the welfare of others, whether on purpose or not
A. Collective action problem
B. Sustainability
C. Externality
D. Marketing myopia
E. Constant returns to scale
C
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It is difficult to know when to apply the prohibition against cruel and unusual punishment because ______.
A. the definitions of "cruel" and "unusual" are difficult to establish B. the public presses the government to inflict cruel punishments C. cruel punishments are often warranted D. crime can be suppressed only if the government is willing to be cruel
How is a cod fishery an example of the tragedy of the commons?
A. Every boat must fish at a pace to sustain the ecosystem, and in the end, no one gets enough fish. B. Every boat faces an incentive to catch as many fish as it can as quickly as possible because it knows that other boats will do the same thing-eventually leading to the collapse of the fishery's ecosystem. C. The fishing, while at a reasonable pace, is unregulated. D. A cod fishery is not like the tragedy of the commons.
In the introduction of this chapter, the authors refer to a "feeding frenzy" surrounding the Dick Cheney shooting story. What is a feeding frenzy? Give an example of it in recent news
Do you think feeding frenzies serve a purpose? If so, what? What will be an ideal response?
How was the Articles of Confederation structured and why did it fail?
What will be an ideal response?