Private Goods Are _____

question 47

Multiple Choice

Private goods are _____

• A)rival and nonexclusive.
• B)exclusive and nonrival.
• C)rival and exclusive.
• D)nonrival and exclusive.
• E)nonrival and nonexclusive.

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Definitions:

Debit Balance

An account balance that occurs when the total amount of debits exceeds the total amount of credits in an account.

Accounts Payable

A liability account on the balance sheet, representing the company's obligation to pay off a short-term debt to its creditors or suppliers.

Sales Tax Payable

The amount of sales tax collected from customers that a business owes to the government.

Sales Tax

A tax imposed by a government on the sale of goods and services.