If No One Can Be Excluded from Consuming Its Benefits

question 94

Multiple Choice

If no one can be excluded from consuming its benefits and there is no rivalry in consumption, then the good is a ________ good.

• A) private
• B) Pareto
• C) public
• D) free

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Definitions:

Principal Debtor

The principal debtor is the original borrower responsible for repaying a debt or obligation in a financing agreement.

Contract

A contract that is enforceable by law, made between two or more entities, detailing their responsibilities and entitlements.

Security Interests

A legal claim or lien on assets, granted to secure the performance of an obligation or the payment of a debt.

Agricultural Liens

Security interests in farm products, such as crops or livestock, which secure payment or performance of an obligation.