When a Good Is Excludable

question 29

Multiple Choice

When a good is excludable:

• A)one person's consumption of the good prevents or decreases the ability of others to consume it.
• B)sellers can prevent people who have not paid for the good from using it.
• C)consumers have a perception that the good is scarce.
• D)the government enacts specific import policies limiting the good's supply.

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Definitions:

Time Value

The concept that money available at the present time is worth more than the same amount in the future due to its potential earning capacity.