Private Schools Are Able to Exclude Students from Attending Classes

question 164

Multiple Choice

Private schools are able to exclude students from attending classes they offer unless students have been accepted and paid tuition and fees. This suggests that education is

• A) subject to the principle of rival consumption.
• B) subject to the free-rider problem.
• C) not subject to the exclusion principle.
• D) a public good.

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Definitions:

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded.

Movement

Refers to a change in position, location, or state of an object or concept over time.

Substitute Goods

These are goods that can be used in place of one another, such that the increase in price of one leads to an increase in demand for the other.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price.