An Artificially Scarce Good Is

question 34

Multiple Choice

An artificially scarce good is:

• A) rival in consumption and excludable.
• B) not rival in consumption, but excludable.
• C) rival in consumption, but not excludable.
• D) not rival in consumption and not excludable.

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Definitions:

Big "C" Creativity

Refers to groundbreaking or transformative innovations and ideas that significantly impact a field or society as a whole, as opposed to everyday creative solutions.

Little c

Refers to 'little creativity' which indicates everyday problem-solving and innovative thinking that anyone can exhibit, as opposed to 'big creativity' seen in groundbreaking achievements.

Flow Experience

A state of complete immersion and optimal engagement in an activity, where individuals lose sense of time and are fully focused on the task at hand.

Absorbed

Fully engaged or engrossed in an activity or subject to the point of being oblivious to other things.