A Harbor Lighthouse That Guides Approaching Ships Is an Example

question 68

Multiple Choice

A harbor lighthouse that guides approaching ships is an example of

• A) a public good.
• B) a private good.
• C) a monopoly.
• D) a good that is rival.

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Definitions:

Prompt Payment Discount

A discount offered to customers for paying their invoices early, serving as an incentive for quicker payment.

Credit Bureaus

Organizations that collect and maintain individual credit information, supplying it to creditors to help them decide whether to lend money.

Credit Applicant

An individual or entity that applies for a loan or credit from a financial institution or lender.

Accounts Receivable

Financial obligations customers have towards a business for utilized or received goods and services that remain unpaid.