A Private Good Is a Good That

question 38

Multiple Choice

A private good is a good that

• A) is consumed by a single person or household.
• B) cannot be used by private citizens.
• C) cannot result in external benefits or costs to those who don't consume.
• D) is available for everyone to consume, regardless of who pays.

---

Definitions:

Shut Down

The process of ceasing operations, either temporarily or permanently, often in the context of industrial and manufacturing settings.

Capacity Allocation

Capacity allocation refers to the process of distributing available resources or capacity among various products, services, tasks, or activities.

Responsiveness

The ability of a company or system to rapidly respond to changes in demand or market conditions.

Demand Satisfaction

The degree to which the needs and desires of customers for a product or service are met by a company.