If It Is Impossible,or Highly Costly,to Prevent Consumers from Consuming

question 135

Multiple Choice

If it is impossible,or highly costly,to prevent consumers from consuming a good when they have not paid for it,the good is called

• A) nonexcludable.
• B) public.
• C) private.
• D) nonrival.
• E) common.

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Definitions:

Income Distribution

The way in which total income is shared among the population or different groups within society.

Lowest Quintile

The segment of a population that falls into the bottom 20% based on income or another measurable characteristic.

Income Distribution

The way in which total income is shared among the population or different segments of an economy.

Lorenz Curve

A graphical representation used in economics to show the distribution of income or wealth within a society, illustrating levels of inequality.