In Economics, a Rival Good Is One That

question 24

Multiple Choice

In economics, a rival good is one that:

• A) cannot be consumed by more than two people at a time.
• B) can be consumed by more than one person at a time.
• C) is congested if used by more than one person at a time.
• D) cannot be consumed by more than one person at a time.
• E) None of these answers is correct.

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Definitions:

Void

A term used to describe something that is not legally enforceable.

Automated Banking System

A digital platform that performs banking transactions electronically without the need for direct human intervention, enhancing efficiency and accessibility.

Calculations

Mathematical processes used to determine the result or solution to a problem.

Surplus

An amount of something left over when requirements have been met; an excess of production or supply over demand.