Some Goods Can Be Either Common Resources or Public Goods

question 251

Multiple Choice

Some goods can be either common resources or public goods depending on

• A)whether the good is rival in consumption.
• B)whether the good is excludable.
• C)the marginal cost of the good.
• D)None of the above is correct.

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Definitions:

Deficiencies

Refers to the lack or shortage of something essential, including nutrients, resources, or qualities necessary for normal functioning and health.

Ideals

Principles or values that are actively pursued as goals or standards of perfection.

Interests

Refers to activities, topics, or subjects that an individual finds engaging or enjoys exploring.

Drive Theories

Psychological theories that posit behavior is motivated by desires to satisfy biological needs or drives.