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:

Shoe

A type of footwear designed to protect and comfort the human foot.

Hand-operated Parking Brake

A manually controlled system that locks the brakes to prevent a vehicle from rolling when parked.

Latch

A mechanical fastener that joins two objects or surfaces, allowing for easy separation or access.

Gear

A mechanical component featuring teeth that mesh with other gear teeth to transmit torque and speed in machinery.