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).

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Definitions:

Mixed Goods-Services

Transactions that involve a combination of tangible goods and services, which may complicate the application of laws meant for purely goods or service transactions.

Predominant Part

The most important or influential component of something.

Sue

To initiate legal proceedings against an individual or entity with the aim of obtaining redress or enforcing a right.

Computer Sales

The business activity of selling computers, computer components, and software to consumers or other businesses.