Common Resources Differ from Public Goods in That

question 88

Multiple Choice

Common resources differ from public goods in that

• A)common resources are nonexcludable while public goods are excludable to those who do not pay for the good.
• B)unlike public goods, common resources are rival in consumption.
• C)common resources are collectively owned by a group of people while public goods are government owned.
• D)common resources are resources that cannot be renewed but the production of public goods can be increased any time.

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Definitions:

Vertical Axis

The “up-down” or “north-south” measurement line on a graph or grid.

After-Tax Income

The amount of income left to an individual or business after all federal, state, and local taxes have been applied.

Consumption

The process by which goods and services are used up or utilized by individuals or entities.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage.