Stephanie Stops at a Gas Station to Fill Up the Tank

question 7

Multiple Choice

Stephanie stops at a gas station to fill up the tank of her car. The unleaded gasoline in her tank is best described as a(n) :

• A) private good.
• B) public good.
• C) artificially scarce good.
• D) common resource.

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Definitions:

Least Complex

Refers to things that are the simplest or have the minimal level of difficulty.

Value-creating

The process of increasing the worth of a product, service, or business to its customers or stakeholders.

Effectuating Opportunities

The act of turning possibilities into profitable ventures or successful initiatives by taking strategic actions.

Creating Opportunities

The process of identifying and acting upon situations or initiatives that can lead to new growth or advantages.