When Comparing the Characteristics of Common Resources and Artificially Scarce

question 85

Multiple Choice

When comparing the characteristics of common resources and artificially scarce goods,we find that:

• A)they are both nonrival in consumption.
• B)they are both excludable.
• C)artificially scarce goods are rival in consumption (while common resources are not)and common resources are excludable (while artificially scarce goods are not).
• D)common resources are rival in consumption (while artificially scarce goods are not)and artificially scarce goods are excludable (while common resources are not).

---

Definitions:

Profitability

The ability of a business to generate earnings compared to its expenses and other relevant costs incurred during a specific period of time.

Supply Chain Coordination

The synchronization and harmonization of a company's supply chain activities, from procurement to product delivery, for improved efficiency and effectiveness.

Forecast Error

The difference between the predicted demand or trends and the actual outcomes, highlighting inaccuracies in forecasting models.

Planned Production

The forecasted or scheduled output of goods and services based on demand predictions, resource availability, and strategic objectives.