Goods That Are Nonrival and Nonexcludable Are Called

question 76

Multiple Choice

Goods that are nonrival and nonexcludable are called

• A) private goods.
• B) free goods.
• C) public goods.
• D) external goods.

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Definitions:

Situationist Argument

The situationist argument posits that people's behavior is more significantly influenced by external situational factors than by internal traits or motivations, emphasizing the power of context in shaping actions.

Predict Behavior

The process of forecasting future actions or reactions of individuals based on observed or known patterns.

Personality Trait

A characteristic way of thinking, feeling, and behaving that is consistent over time and across situations.

Everyday Intuitions

The unconscious, quick judgments and decisions that people make daily without deliberate analytical thought.