At the Local Park There Is a Playground for Children

question 45

Multiple Choice

At the local park there is a playground for children to use. While anyone is allowed to use the playground, it is often very busy, reducing the enjoyment of many of the children who use it. The playground is a

• A)private good.
• B)club good.
• C)common resource.
• D)public good.

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Definitions:

Intangible Outputs

Results or benefits from a process, service, or product that cannot be physically touched or quantified easily, such as reputation or brand value.

Human Resource Requirements

The specific needs related to staffing, skills, and manpower necessary to complete a project or operate a business.

Managing Demand

The process of strategically moderating and directing consumer demand through various techniques to match available capacity.

Service Firms

Companies that provide intangible products or services to consumers or other businesses.