A Good That Is Consumed by a Single Person or Household

question 13

Multiple Choice

A good that is consumed by a single person or household is

• A) rival.
• B) nonrival.
• C) excludable.
• D) nonexcludable.

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Definitions:

HR Forecasting

A method used in human resources to estimate future workforce needs to achieve the organization's objectives.

Organizational Goals

Objectives that an organization seeks to achieve, defining its purpose and, in essence, setting the direction for its activities and efforts.

Demand Requirements

The specific needs or quantities of products or services required by the market or a particular customer.

Qualitative Forecasting

The method of prediction based on non-quantifiable information such as expert opinions, industry trends, and qualitative comparisons.