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:

Developing Countries

Nations with lower levels of industrialization, income, and standards of living compared to developed countries.

National Budget

A financial statement presenting the government's projected revenues and spending for a specific financial year.

Steel Mill

A factory where steel is produced from raw materials through processes such as melting, casting, rolling, and shaping.

Coal

A fossil fuel that is formed from the remains of ancient plants and used for electricity generation and industrial processes.