Asked by
Russell Freeze
on Oct 26, 2024
Verified
Computer software that you can download from the Internet for a price is an artificially scarce good because it is _____ but _____ in consumption.
A) nonexcludable;rival
B) excludable;nonrival
C) nonexcludable;nonrival
D) excludable;rival
Excludable
A characteristic of a good or service that allows its owner to prevent others from using it without permission.
Nonrival
A characteristic of a good whereby one person's consumption does not diminish the availability of the good for consumption by others.
- Separate and identify the characteristics of different goods types, including public goods, artificially scarce goods, and common resources, and comprehend the fundamental sources of market failure for each type.
Verified Answer
RM
Learning Objectives
- Separate and identify the characteristics of different goods types, including public goods, artificially scarce goods, and common resources, and comprehend the fundamental sources of market failure for each type.
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