A Common Resource Is a Good or Service for Which

question 152

Multiple Choice

A common resource is a good or service for which exclusion is _____ and that is _____ in consumption.

• A)possible;rival
• B)possible;nonrival
• C)not possible;rival
• D)not possible;nonrival

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Definitions:

Unit Sales Price

The amount of money charged for one unit of a product or service.

Make Or Buy Analysis

A decision-making process used by companies to determine whether products or services should be produced internally or purchased from an external supplier.

Lowest Cost Alternative

A cost-minimization strategy that involves choosing the most economical option among different possible choices.

Evaluate Possible Courses

The process of examining and considering all potential actions to determine the best course of action.