A Co-Op Is an Apartment Building Owned by a Corporation

question 31

True/False

A co-op is an apartment building owned by a corporation where residents of the building are stock holders.When you buy into a co-op,you buy shares that reflect the dollar value of your space.The larger and more desirable the space you want requires purchase of more shares.

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Definitions:

Common Resources

Natural or man-made resources that are not excludable but are rival in consumption, such as fish in the sea or public parks.

Excludable

A characteristic of a good or service that means it can be prevented from being used by people who have not paid for it.

Private Goods

Goods that are excludable and rivalrous, meaning one person's consumption prevents another's and consuming the good diminishes its availability for others.

Common Resources

Resources that are accessible to all members of a community but are susceptible to overuse and depletion, such as air, water, and fish in the ocean.