When a Good Is Rival in Consumption

question 102

Multiple Choice

When a good is rival in consumption:

• A) people can be excluded from using the good.
• B) one person's use of the good prevents another's ability to use it.
• C) no more than one person can use the good at the same time.
• D) people can be prevented from using the good.

---

Definitions:

Insurer

The party who receives payments from the insured party and makes the payment to the beneficiary.

Mailbox Rule

A rule which holds that an acceptance is valid when it is placed in the mailbox, whereas a revocation is effective only when received by the offeree. In some jurisdictions the mailbox rule has been expanded to faxes.

Automobile Insurance

A type of insurance policy that provides financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise.

Premium

An amount paid periodically to the insurer by the insured for covering his risk or the cost above the nominal value of something.