A Good or Resource Is Excludable If

question 23

Multiple Choice

A good or resource is excludable if

• A) only the government can produce it.
• B) when you consume a unit, that means there is one less for someone else.
• C) it is a common resource.
• D) nobody can be excluded from enjoying the benefits of the good or resource.
• E) when you pay for the good or resource, you are guaranteed to be the sole consumer.

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Definitions:

Internally Oriented

Focused on one's inner thoughts, feelings, and experiences as opposed to being influenced by external circumstances or opinions.

External Locus

A belief system where an individual attributes their successes and failures to external factors and influences rather than their own efforts.

Control

The power to influence or direct people's behavior or the course of events, often studied as a trait that contributes to psychological well-being when effectively balanced.

Locus of Control

A psychological concept referring to an individual's belief about how much control they have over the outcomes of events in their lives, ranging from internal (a belief in personal control) to external (a belief that outside forces dominate).