If the consumption of a good or service by one person does not decrease the quantity available for another person, the good or service is
A) nonrival.
B) nonexcludable.
C) pure.
D) free.
A
You might also like to view...
A price control always benefits consumers
a. True b. False Indicate whether the statement is true or false
Economists have found evidence of a Giffen good when studying the consumption of rice in the Chinese province of Hunan
a. True b. False Indicate whether the statement is true or false
A newspaper headline asserts: "Falling Demand Pushes Down Housing Prices." This headline
A. incorrectly implies that more housing will be demanded at higher prices. B. correctly implies that a decrease in demand will decrease the market clearing price. C. incorrectly implies that the price of housing will rise when demand increases. D. incorrectly implies that the demand for housing can change, whereas in fact only the quantity of housing demanded can change.
In Figure 1.3, A, B, and C, which depicts the existence of scarcity? 
A. Figure A B. Figure B C. Figure C D. All three figures show the existence of scarcity.