A Good or Service That Is Both Rival and Excludable

question 1

Multiple Choice

A good or service that is both rival and excludable is a:

• A)public good.
• B)private good.
• C)collective good.
• D)commons good.

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Definitions:

Unregistered Mortgage

A mortgage that has not been formally recorded with the relevant legal or government authorities, potentially affecting its enforceability.

Default

The failure to fulfill a legal obligation, such as not making a payment on a loan.

Equity of Redemption

The right of a borrower to reclaim property put up as collateral after clearing their debt, especially in relation to mortgage agreements.

Mortgageable Estate

A property or estate which can be used as security for a mortgage loan.