Private Goods Are Characterized by Two Important Attributes

question 49

Multiple Choice

Private goods are characterized by two important attributes.What are they?

• A)marginality and depletability 
• B)scalability and desirability 
• C)repeatability and reliability 
• D)depletability and excludability

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Definitions:

Raw Materials Inventory

The cost of the materials that are to be used in production and are currently stored within a company.

Budgeted Purchases Cost

Refers to the estimated expense for acquiring goods over a specific period, often used in planning and controlling inventory levels.

Ski Boots

Footwear specifically designed for skiing, providing support and enabling the skier to control the skis.

Purchase of Suits

Purchase of suits refers to the acquisition of formal clothing items, recorded as a business expense if used for professional purposes.