A Crowded Freeway During the Rush Hour Is a ________

question 6

Multiple Choice

A crowded freeway during the rush hour is a ________ and so it is ________.

• A) common resource; overutilized
• B) private good; efficiently utilized
• C) public good; overutilized
• D) natural monopoly; underutilized

---

Definitions:

Insurance Settlement

The payment made by an insurance company to a policyholder following a claim, intended to cover losses or damages incurred.

Note Balance

The remaining amount owed on a promissory note after payments have been made.

Refinancing

Replacing an old loan with a new loan, typically with better terms, such as a lower interest rate.

Loss Contingency

A potential financial loss to a company that might occur in the future due to past events or transactions, depending on the outcome of uncertain future events.