Which of the Following Would Be Best Classified as a Private

question 36

Multiple Choice

Which of the following would be best classified as a private good?

• A) A missile defense system
• B) Police force
• C) Radio frequency
• D) Clothing

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Definitions:

Trustee

A person or firm that holds and administers property or assets for the benefit of a third party.

Assets

Resources owned by a company or individual with economic value.

Bankruptcy Law

The area of law dealing with situations where individuals or entities cannot repay their debts and seek relief through legal proceedings.

Bankruptcy Abuse Prevention and Consumer Protection Act

A U.S. law enacted in 2005 aimed at curtailing bankruptcy filings considered abusive and providing better consumer protections.