Table: Example Goods a Watermelon a Lighthouse Smog Reduction Online

question 56

Multiple Choice

Table: Example Goods A Watermelon A Lighthouse Smog Reduction Online Video Games Cable Internet Service National Defense A Private Beach A Public Beach A Pencil Soup Kitchen Meals A Chair Toll Highways Public Roads Reference: Ref 18-2 (Table: Example Goods) Refer to the table. Which of the following contains only private goods from the table?

• A) a watermelon, toll highways, a private beach, a chair
• B) a watermelon, cable Internet service, a private beach, a pencil, a chair
• C) a watermelon, a chair, a pencil
• D) online video games, a watermelon, a private beach, a pencil, a chair

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Definitions:

Conflict Diamonds

Diamonds that are mined and sold by combatants in war zones in Africa as a way to provide the currency needed to finance their military activities.

Extraction Costs

The expenses associated with the removal of natural resources from the earth, such as mining for minerals or drilling for oil.

Long-Term Stream

A sustained flow of actions or processes, often referring to investments or financial commitments that span a lengthy period.

User Cost

The cost of using a good or service, including the opportunity cost of forgone alternatives and the depreciation of the good's own value over time.