Which of the Following Statements About Private Goods and Public

question 436

Multiple Choice

Which of the following statements about private goods and public goods is correct?

• A)Private goods and public goods are both excludable.
• B)Private goods and public goods are both rival in consumption.
• C)Private goods are not excludable and public goods are excludable.
• D)Private goods are rival in consumption and public goods are not excludable.

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Definitions:

Postdecisional Dissonance

The discomfort experienced after making a difficult choice, often involving feelings of regret or uncertainty.

Cognitive Dissonance

The psychological discomfort experienced when holding two or more conflicting cognitions, such as beliefs, attitudes, or behaviors.

Dissonance Reduction

The process of rationalizing or justifying conflicting thoughts, beliefs, or attitudes to reduce psychological discomfort.

Theory of Planned Behavior

A psychological theory which states that an individual's behavior is determined by their intention to perform the behavior, which in turn is influenced by their attitudes, subjective norms, and perceived behavioral control.