The Principal Feature of Private Goods Is That

question 52

Multiple Choice

The principal feature of private goods is that

• A) they cannot be rented or purchased.
• B) consumption by one person reduces the quantity available to others.
• C) no one can be excluded from consumption of the product.
• D) externality problems associated with their production are always negative.

---

Definitions:

Triadic Reciprocal Model

A concept in psychology suggesting that human behavior is influenced by the interaction of personal factors, behavior, and the environment.

Cognitive Processes

Mental activities involved in the acquisition, storage, manipulation, and retrieval of knowledge.

Social Cognitive Theory

A theory that suggests learning occurs in a social context with a dynamic and reciprocal interaction of the person, environment, and behavior.

Awareness

The state or ability to perceive, feel, or be conscious of events, objects, or sensory patterns.