A Good Is a Private Good If

question 56

Multiple Choice

A good is a private good if

• A) people who do not pay for the good can enjoy it without paying for it.
• B) it is not a common resource.
• C) the good is nonrival.
• D) the good is excludable and rival.
• E) it is both nonexcludable and nonrival.

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Definitions:

Uncertainty Influence

The impact that lack of predictability or certainty in situations has on decision making, strategies, and outcomes.

Managerial Decisions

Choices or judgments made by managers as part of their role to guide the direction of an organization or its resources.

Eusocial Ants

Ant species that exhibit the highest level of social organization, including division of labor, cooperative brood care, and overlapping generations.

Haplodiploid Hymenoptera

A sex determination system in certain insects like bees, ants, and wasps, where males develop from unfertilized eggs and are haploid, while females develop from fertilized eggs and are diploid.