A Good Is a Private Good If

question 56

Multiple Choice

A good is a private good if

• A) people who do not pay for the good can enjoy it without paying for it.
• B) it is not a common resource.
• C) the good is nonrival.
• D) the good is excludable and rival.
• E) it is both nonexcludable and nonrival.

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Definitions:

Procedural Fairness

The perceived fairness of the processes used to make decisions, often affecting satisfaction with the outcome or the organization itself.

Return Policies

Return policies are the rules a retailer sets about how customers can return or exchange purchased items.

Customer Service Desk

A dedicated area where customers can receive assistance, make inquiries, and resolve issues regarding a company's products or services.

Distributive Fairness

The perception of fairness in the outcomes received, often relating to the equitable distribution of resources or benefits among individuals.