Which of the Following Types of Goods Are Rival in Consumption

question 394

Multiple Choice

Which of the following types of goods are rival in consumption?

• A)private goods and club goods
• B)private goods and common resources
• C)public goods and club goods
• D)public goods and common resources

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Definitions:

Cars

motor vehicles with wheels designed primarily for the transport of people rather than goods.

Lumber

Timber that has undergone transformation into boards and beams, representing an intermediate phase in the creation of wooden materials.

Comparative Advantage

Comparative advantage refers to the ability of a country or firm to produce a particular good or service at a lower opportunity cost than its competitors.

Labor Abundance

A situation where there is a large supply of workers relative to the demand for labor, which can affect wages and employment levels.