What Are the Two Characteristics That Differentiate Private Goods from Public

question 8

Multiple Choice

What are the two characteristics that differentiate private goods from public goods?

• A) Rivalry and excludability
• B) Negative externality and positive externality
• C) Marginal cost and marginal benefit
• D) Ownership and usage

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Definitions:

Social Referencing

The process by which individuals look to others in their environment for cues on how to react or behave in certain situations.

Disindividuation

A psychological state where an individual loses self-awareness and a sense of individuality, often leading to uncharacteristic and disinhibited behavior, typically in group settings.

Social Comparison

The process by which individuals evaluate their own abilities, achievements, and conditions relative to others.

Sufficient Time

An adequate amount of time required to complete a task or achieve a desired outcome, allowing for thoroughness and accuracy.