An important characteristic of private goods is
A) the nonexclusion principle.
B) the principle of rival consumption.
C) the principle of joint consumption.
D) the principle of conspicuous consumption.
B
Economics
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Suppose Lorna will buy more sweaters if the price of sweaters rises. She is violating the
a. law of supply b. law of increasing costs c. law of large numbers d. law of diminishing costs e. law of demand
Economics
Today, people changed their expectations about the future. This change a. can cause a movement along a demand curve
b. can affect future demand but not today's demand. c. can affect today's demand. d. cannot affect either today's demand or future demand.
Economics