A Private Good Is a Good That

question 79

Multiple Choice

A private good is a good that

• A) is nonrival.
• B) is not excludable.
• C) is provided only by private sectors.
• D) is consumed by a single person or household.

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Definitions:

Corporate System

A structure or framework that defines the practices, policies, and organizational arrangements of a corporation.

Consumer Needs

The essential requirements that consumers seek to fulfill with products or services, including functional, emotional, and social needs.

Cultural Form

Indicates the various expressions and manifestations of culture, including art, music, literature, and traditions, which embody the values and norms of a society.

Lifestyle

The interests, opinions, behaviors, and behavioral orientations of an individual, group, or culture.