A Private Good Is

question 29

Multiple Choice

A private good is

• A)rival and excludable in consumption.
• B)nonrival and excludable in consumption.
• C)rival and nonexcludable in consumption.
• D)nonrival and nonexcludable in consumption.

Understand the role of descriptive and injunctive norms in shaping consumer behaviour.

Identify obstacles to predicting behaviour with the theory of reasoned action and the Fishbein models.

Appreciate modifications made to the original Fishbein model to improve attitude-behaviour predictions.

Understand and describe the concept of descriptive norms.

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Definitions:

Excise Tax

A specific duty charged on the sale or consumption of particular goods, such as luxury items, gasoline, and alcohol, which is often aimed at discouraging certain behaviors.

Consumers

Individuals or entities that purchase goods or services for personal use rather than for manufacturing or reselling.

Soft Coal

A term often used for bituminous coal, characterized by its relatively high volatile content and used primarily for electricity generation and industrial heat.

Tax Impact

The effect that changes in taxation have on the economy, individuals, or businesses, including adjustments in spending, investment, and distribution of income.