If You Consume Some Good,and by Doing So You Diminish

question 47

Multiple Choice

If you consume some good,and by doing so you diminish other people's possible use of that good,we say that the good is

• A)rivalrous.
• B)excludable.
• C)a common resource.
• D)not productively efficient.
• E)a public good.

---

Definitions:

Unit Cost

The expense incurred to produce, store, and sell one unit of a product or service.

Unit Cost

The cost to produce, acquire, or purchase one unit of a product or service, calculated by dividing total costs by the number of units produced or acquired.

Inventory

The total amount of goods or materials in stock, which a business holds to ultimately sell for a profit.

Specific Identification Formula

A method used in inventory accounting that tracks the cost of specific items purchased and sold.