Economists Consider a Product Such as a University Education to Be

question 89

Multiple Choice

Economists consider a product such as a university education to be ________,whereas a product such as your local library is generally considered to be ________.

• A)non-rivalrous and non-excludable; rivalrous and non-excludable
• B)rivalrous and non-excludable; rivalrous and excludable
• C)rivalrous and excludable; non-rivalrous and excludable
• D)rivalrous and excludable; rivalrous and non-excludable
• E)non-rivalrous and excludable; non-rivalrous and excludable

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Definitions:

Business Operations

The day-to-day activities involved in managing a business, ensuring it functions efficiently and profitably.

Management Reorganizes

Refers to the process of changing the structure or allocation of responsibilities within a company's management team, aiming at increasing efficiency or meeting new strategic goals.

Liquidation

Ending a firm’s life by selling off its assets.

Trustee

An individual or organization designated to hold and manage assets on behalf of others, often in a trust fund.