A characteristic of public goods is that use of the good by one person does not reduce its availability to others. The term for this characteristic is.

a. Non-exclusive
b. Transferable
c. Non-rival
d. Perfectly elastic
e. Free-rider

Ans: c. Non-rival

Economics

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Assume that firms A and B have the same minimum efficient scale of operation and, at current production levels, both firms are incurring the same average costs of production. However, firm A's output is 5 times larger than firm B's output

How is this possible?

Economics

Identify the correct statement

a. District banks of the Fed hold reserves in the form of deposits at the Fed. b. Commercial banks in each district make loans to the Fed. c. The Fed sells U.S. government securities for the U.S. Treasury. d. The district banks of the Fed print money and supply currency to the Fed. e. The Fed holds the reserves of the commercial banks but it does not issues checks.

Economics