If Use by Certain Individuals Does Not Reduce Availability for Others

question 14

Multiple Choice

If use by certain individuals does not reduce availability for others, then a good or service is said to display:

• A) the nonrival consumption concept.
• B) the nonexclusion concept.
• C) positive net social benefits.
• D) the private good concept.

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Definitions:

Administrator of the Estate

An individual appointed by a court to manage and distribute the assets of a deceased person's estate when there is no will.

Revocation

The official cancellation or withdrawal of a decree, decision, or promise.

Executor

An individual appointed by a testator to carry out the terms of their will.

Intestate

Referring to dying without a legal will, resulting in the distribution of the estate according to state laws.