Private Goods Are

question 20

Multiple Choice

Private goods are

• A)nonrival and excludable.
• B)nonrival and nonexcludable.
• C)always produced in a nonregulated market.
• D)rival and excludable.
• E)rival and nonexcludable.

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Definitions:

Corporation

A legal entity that is separate and distinct from its owners, capable of conducting business, entering into contracts, and owning assets.

Corporate Form

A legal structure for organizing a business as a separate legal entity, distinct from its owners, with its own rights and liabilities.

Advantages

The positive aspects or benefits associated with a decision, strategy, or action.

Franchise

A business model where a franchisee obtains the rights to operate a business under the franchisor's brand and system in exchange for a fee.