The Principal Feature of Private Goods Is That

question 52

Multiple Choice

The principal feature of private goods is that

• A) they cannot be rented or purchased.
• B) consumption by one person reduces the quantity available to others.
• C) no one can be excluded from consumption of the product.
• D) externality problems associated with their production are always negative.

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Definitions:

Correlation

A statistical measure that describes the degree to which two variables move in relation to each other.

Hypothesis

An if–then statement of conjecture that relates variables to one another and is used to reflect the general problem statement or question that is the motivation for asking a research question.

Directional Research Hypothesis

A research hypothesis that posits a difference between groups in one direction.

Nondirectional Research Hypothesis

A research hypothesis that posits a difference between groups but not in either direction. See Directional Research Hypothesis.