The distinguishing characteristic of private goods is that
A) the principle of rival consumption does not apply to them.
B) their use is exclusive to the people who purchase them.
C) they can be sold but not rented.
D) they can be sold or rented, but not borrowed.
B
You might also like to view...
Angelee works for a major corporation overseeing quality control, and she earns $50,000 per year. She uses about ten percent of her pay to purchase household items, such as appliances, and spends another two percent on travel. She buys stock with about five percent of her pay. Explain which of her actions are part of the factor market and why?
What will be an ideal response?
What is the basic conclusion that is to be drawn from the chapter? On what two facts is this conclusion based? What are the implications?
What will be an ideal response?
Refer to the information provided in Figure 8.9 below to answer the question(s) that follow. 
Figure 8.9
Refer to Figure 8.9. At the market price of $18 per bale, if this farmer produces the profit-maximizing level of hay, the total revenue would be
A. $1,200. B. $2,800. C. $5,600. D. $6,300.
An increase in which of the following factors can lead to sustained growth of a nation in the Solow model?
A) Physical capital B) Technology C) Human capital D) Savings rate