A Good Is Nonrival If

question 24

Multiple Choice

A good is nonrival if

• A) There is no way to prevent a person from consuming or using it
• B) More than one person can consume it at the same time without affecting its value to others
• C) Consumption of it involves perfect rivalry
• D) Consumption is completely excludable

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Definitions:

Gain

An increase in wealth, resources, or value, often realized through investments, business operations, or other financial activities.

Loss

A situation in which expenses exceed revenues, leading to a negative financial outcome for a business or individual.

Cars

Motor vehicles with four wheels designed for transporting people on roads, ranging from compact models to larger family-sized versions.

Opportunity Costs

The financial sacrifice made by not selecting the alternative that ranks immediately lower when faced with a decision.