State Highways Are an Example of A

question 174

Multiple Choice

State highways are an example of a:

• A) private good.
• B) public good.
• C) common resource.
• D) nonrival private good.

---

Definitions:

Purchase Price

The amount of money paid or agreed to be paid by the buyer to the seller for the acquisition of a good, service, or property.

Cooperative

An organization owned and operated by a group of individuals for their mutual benefit.

Governance

The framework of rules, practices, and processes by which a firm is directed and controlled.

Penalty

A punishment imposed for breaking a law, rule, or contract.