How Are Private Goods Classified

question 24

Multiple Choice

How are private goods classified

• A)as both excludable and nonrival in consumption
• B)as both nonexcludable and rival in consumption
• C)as both excludable and rival in consumption
• D)as both nonexcludable and nonrival in consumption

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Definitions:

Social Media

Platforms on the internet that enable users to create, share content, and participate in social networking.

Luxurious Products

High-quality, often expensive goods that offer superior comfort, functionality, or prestige, and are not essential but highly desired.

Happiness

A state of well-being and contentment characterized by emotions ranging from contentment to intense joy.

Affect

The experience of feeling or emotion.