Josh Has an IPhone, and He Frequently Downloads Songs from the ITunes

question 35

Multiple Choice

Josh has an iPhone, and he frequently downloads songs from the iTunes website. He pays a small fee for each download, but downloading a song does not remove it from the iTunes inventory. Other consumers can also pay the fee and download a song that Josh might have already accessed. The iTunes service is best described as(n) :

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

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Definitions:

No-fault Personal Liability

A legal principle where individuals receive compensation for injuries regardless of who is at fault.

Accident-prone Drivers

Individuals who have a higher likelihood of being involved in vehicular accidents due to behavior or other factors.

Bonding

The process of establishing a secure or insured relationship, often through a financial guarantee or a bond, to protect against losses or damages.

Wrongful Act

An action that is illegal or immoral, which can lead to civil liability or criminal charges for the person who commits it.