What Would Be an Example of a Consumption Good

question 29

Multiple Choice

What would be an example of a consumption good?

• A) Jake buys an iPhone.
• B) Tony AbbottScott Morrison purchases furniture for his office.
• C) The local driver's licence office purchases a new digital camera and printer.
• D) Antonio, the manager of the local chicken shop, purchases a new deep fryer.
• E) Rhianna gets a haircut.

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Definitions:

Peer Lending

A financing method where individuals lend and borrow money to each other directly without the intervention of traditional financial institutions.

Capital Flight

The large-scale exodus of financial assets and capital from a country due to economic or political instability.

Imperfect Information

A situation where all parties in a transaction do not have the same information, leading to an inefficient market outcome.

Tragedy Of The Commons

A situation where individual users, acting independently according to their own self-interest, deplete or spoil shared resource through their collective action.