A Good That Is Rival and Non-Excludable Is Defined as a ________

question 68

Multiple Choice

A good that is rival and non-excludable is defined as a ________ good.

• A) private
• B) public
• C) common-resource
• D) normal
• E) government

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Definitions:

Transaction

Any agreement or exchange between two parties where goods, services, or money are passed from one to the other.

Pay Phone

A public telephone that operates with the insertion of coins or by credit card payment.

Economic Theory

A collection of theories and frameworks that describe the workings of economies and the interactions between economic participants.

Communications

The act or process of exchanging information and ideas through various mediums and platforms.