Nonexclusionary,as It Relates to Public Goods,means That

question 24

Multiple Choice

Nonexclusionary,as it relates to public goods,means that:

• A) no producer can be excluded from providing the good.
• B) no one can be excluded from consuming the good, once it is provided.
• C) the government can only exclude consumers from consuming the good.
• D) producer-consumer rivalry exists.

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Definitions:

Circular-Flow Diagram

A graphical representation of the economic system illustrating the circulation of money between households and companies through various markets.

Market

A forum where buyers and sellers come together to exchange goods, services, or information.

Goods and Services

Goods and services encompass all the physical items and intangible benefits that are produced and consumed to satisfy human wants and needs.

Factors of Production

Factors of production are the inputs used in the production of goods or services in the attempt to make an economic profit, including labor, capital, land, and entrepreneurship.