Fish in the Ocean Are an Example of ________ Because

question 46

Multiple Choice

Fish in the ocean are an example of ________ because they are ________.

• A) public good; nonexcludable and nonrival
• B) public good; rival and excludable
• C) common resource; rival and nonexcludable
• D) common resource; nonrival and nonexcludable
• E) private good; caught by private fishermen

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Definitions:

Administrative Expense

Costs related to the general operation of a business, including salaries of senior executives, costs of any administrative functions, and other non-sales or production expenses.

Accounting Method

The rules and procedures that a company follows in reporting its financial transactions, including how it records income and expenses.

Income Statement

A document detailing a firm's earnings, outgoings, and profit within a designated timeframe.

Continuing Operations

Parts of a business expected to continue for the foreseeable future, exclusive of any segments that may be sold off or discontinued.