An artificially scarce good is:

A. not rival in consumption, but excludable.
B. rival in consumption, but not excludable.
C. rival in consumption and excludable.
D. not rival in consumption and not excludable.


Answer: A

Economics

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Exclusive rights of ownership that allow the use, transfer, and exchange of property are called

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If the quantity supplied in a market exceeds the quantity demanded in a market, we would expect price to:

A) stay the same. B) increase. C) decrease. D) rise in order to clear the market.

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The percentage of the population over 16 that is employed or seeking employment is called the

A. Unemployment Rate. B. Employment Rate. C. Employment-Population Ratio. D. Labor Force Participation Rate.

Economics