Which of the Following Statements Is Correct

question 68

Multiple Choice

Which of the following statements is correct?

• A)A private good is not rival in consumption but is excludable.
• B)A public good is both rival in consumption and excludable.
• C)A common resource is rival in consumption but not excludable.
• D)A natural monopoly is neither rival in consumption nor excludable.

---

Definitions:

Lack of Management Experience

A common challenge faced by businesses, particularly small and start-up companies, where the management team lacks the experience to make informed decisions and strategies.

Marketing Expertise

The specialized knowledge and skills in creating and implementing strategies to promote products or services effectively.

Credit Foreclosure

Credit foreclosure refers to the legal process by which a lender takes possession of a property used as collateral for a loan, typically due to the borrower's failure to make the agreed loan payments.

Business Failure

When a business closes with a financial loss to a creditor.