If a Person Can Be Prevented from Using a Good

question 33

Multiple Choice

If a person can be prevented from using a good, the good is said to be

• A) excludable.
• B) a common resource.
• C) a public good.
• D) rival.

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Definitions:

Factor Of Production

An essential input to the production process, such as labor, capital, land, and entrepreneurship.

Marginal Productivities

The additional output that is produced by using one more unit of a particular input, ceteris paribus.

Earnings Alteration

Changes or modifications to the amount of money earned by an individual or company.

Rental Price

The amount of money paid periodically for the use of an asset, property, or piece of equipment.