A Distinction Between Normal Goods and Information/knowledge Is That

question 22

Multiple Choice

A distinction between normal goods and information/knowledge is that

• A)Normal goods wear out,but information/knowledge does not
• B)Information/knowledge can be given or sold to many others
• C)Information/knowledge is subject to diminishing returns,but physical outputs are subject to increasing returns
• D)Both A and B

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Definitions:

Insurable Interest

A stake or a legal right in the preservation of an item, person, or property that allows an individual or entity to obtain insurance coverage against loss or damage.

Supply Stoppages

Interruptions or halts in the provision or delivery of goods and services, often due to disputes, logistics issues, or external factors.

Salvage

The act of rescuing a ship, its crew, and cargo from peril at sea, often entailing the recovery of parts or property from damage or destruction.

Subrogation

A legal principle allowing an entity, such as an insurance company, to step into the shoes of another party to pursue recovery from the party responsible for a loss or damage.