A Private Good

question 48

Multiple Choice

A private good:

• A) is a good for which consumption involves perfect rivalry.
• B) is nonexcludable.
• C) is often provided by the government.
• D) is a good for which consumption involves perfect rivalry and is nonexcludable.

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Definitions:

Yellow Fever Epidemic

A severe outbreak of Yellow Fever, a viral disease transmitted by mosquitoes, which killed thousands in multiple instances throughout history, particularly in densely populated areas.

Plunder

The act of robbing goods by force, especially during war or conflict, often associated with pillaging.

Gabriel's Rebellion

An 1800 slave revolt in Richmond, Virginia, led by Gabriel Prosser, that aimed to gain freedom for African-American slaves but was suppressed before it could be fully executed.

Illiterate Field Hands

Agricultural workers, often slaves or laborers in later periods, who could not read or write, common on plantations and farms historically.