A Private Good Is ________ and ________

question 34

Multiple Choice

A private good is ________ and ________.

• A) scarce; expensive
• B) nonrival; excludable
• C) nonrival; nonexcludable
• D) rival; excludable
• E) rival; nonexcludable

Distinguish between Pattern I and Pattern II organizational behaviors and leadership styles.

Analyze the influence of a supportive organizational climate on employees and their performance.

Understand the concept of community in the workplace and its dual nature.

Identify the core values of widely recognized organizational cultures.

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period.

Materials

Raw inputs or components used in the manufacturing or production process to create a final product.

Equivalent Unit

A concept used in cost accounting to express the amount of work done by incomplete units in terms of fully completed units.

Weighted-Average Method

An approach to inventory valuation where the cost of goods sold and ending inventory figures are derived from the average cost of all units on sale during that interval.