A Good or Service That Is Rival but Nonexcludable Is

question 114

Multiple Choice

A good or service that is rival but nonexcludable is called a ________, and a good or service that is nonrival but excludable is called a ________.

• A)public good; private good
• B)commons good; public good
• C)commons good; collective good
• D)public good; collective good

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Definitions:

External Control

Mechanisms or practices imposed from outside an organization to ensure it meets legal, ethical, or standard compliance, such as regulatory measures.

Sales Representative

An individual who promotes and sells products or services for a company, often working on commission.

New Market

Refers to a previously untapped or emerging market space where a company can expand its product or service offerings.

Maintenance

Activities and practices aimed at keeping equipment, systems, and facilities in optimal working condition, as well as preserving the well-being and performance of employees.