A Good or Resource That Is Both Nonrival and Nonexcludable

question 71

Multiple Choice

A good or resource that is both nonrival and nonexcludable is

• A) a good that is impossible to produce.
• B) a private good.
• C) a common resource.
• D) a public good.
• E) nonexistent because it is impossible for a good or resource to be both nonrival and nonexcludable.

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Definitions:

Net Sales

The total revenue generated from sales activities after deducting returns, allowances, and discounts.

Days' Sales in Inventory

A financial ratio that indicates the average time in days that a company takes to turn its inventory into sales.

Ending Inventory

The overall value of products for sale at the close of a fiscal period.

Cost of Goods Sold

Directly associated expenditures for producing the goods a business sells, including the cost of materials and labor.