An Example of a Private Good Is

question 41

Multiple Choice

An example of a private good is

• A) national defense.
• B) a bottle of perfume.
• C) city streets and highways.
• D) clean air.

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Definitions:

Industry Domination

A situation in which one company has a significant advantage over its competitors in the same industry, often controlling a large market share.

Maximum Market Share

The highest possible portion of market sales that a company or product can achieve within an industry.

Evolving Customer Demands

The changing needs and expectations of customers, often driven by innovations, technological advancements, and market trends.

Contemporary Organisations

Modern entities that are characterized by their adaptive strategies, innovative approaches, and responsiveness to changes.