If a Good Is Nonrival, Then

question 83

Multiple Choice

If a good is nonrival, then:

• A)it has no substitutes.
• B)consumers can enjoy it without paying for it.
• C)consumption of the good by one person does not diminish its availability to others.
• D)consumption of the good by one person diminishes its availability to others.

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Definitions:

Perceived Risk

The potential for loss or adverse outcomes that consumers believe may result from a purchase decision or certain behavior.

Utility

In economics, the satisfaction or benefit derived by consumers from consuming a good or service.

Shopping Experience

The totality of a customer's interactions and perceptions about purchasing goods or services at a retail or online store.

Utilitarian

Pertaining to or advocating the philosophy that actions are right if they are useful or for the benefit of a majority.