Which of the following terms is used in economics parlance to describe a person who receives the benefits of a good but avoids paying for it?

Question

“What to produce” is a central problem that deals with which of the following questions?

1) What technique of production to use?
2) What type of goods to produce?
3) Which income group to produce for?
4) What quantity of goods to produce?

Choose the correct answer from the options given below:

Answer 1

Step 1: Review Economic Terminology
- Free Rider: Consumes a good or service without payment.
- Debtor: Owes money to another party.
- Willful Defaulter: Intentionally avoids paying debts.
- Ungrateful Beneficiary: Not a recognized economic term.

Firm 2	Cooperate	Compete
Firm 1	5, 5	0, 10
Compete	10,0	2, 2

Which of the following terms is used in economics parlance to describe a person who receives the benefits of a good but avoids paying for it?

Show Hint

The Correct Option is B

Solution and Explanation

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