A good is rivalrous in consumption if

A. its consumption by one person reduces its consumption by others.
B. it can be used to satisfy many needs (as compared to just one need).
C. it can be used to satisfy many wants (as compared to just one want).
D. its consumption by one person increases its consumption by others.
E. a and c


Answer: A

Economics

You might also like to view...

Which of the following is an example of labor income?

A) Dividend received by shareholder B) Profit earned by an entrepreneur C) Rent paid to a landlord D) Bonus paid to a worker

Economics

In the absence of a Ricardo-Barro effect, a government budget deficit ________ the demand for loanable funds and ________ investment

A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases

Economics

In the above table, what is the marginal revenue product of the 4th worker?

A) $92 B) $70 C) $40 D) $8

Economics

At levels of output close to full employment, the aggregate supply curve is probably

A. very flat. B. very steep. C. sloped downward. D. perfectly elastic.

Economics