A Radio Signal Broadcast Through the Air Is ________ in Consumption

question 117

Multiple Choice

A radio signal broadcast through the air is ________ in consumption, and listeners are ________.

• A) rival; excludable
• B) nonrival; excludable
• C) nonrival; nonexcludable
• D) rival; nonexcludable

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Definitions:

Geegaws

Small, showy trinkets or novelty items.

Doodads

Informal term for small gadgets or devices, often novel or unnecessary; not a standard economic term.

Pareto Optimal

An economic state where resources are allocated in such a way that it is impossible to make any one individual better off without making at least one individual worse off.

Utility Functions

Functions that model the preference ranking of various combinations or bundles of goods and services by assigning a utility value based on the satisfaction obtained.