Ask Question
29 November, 21:10

Which of the following is a list of private goods only?

A) a watermelon, toll highways, a private beach, a chair.

B) a watermelon, cable Internet service, a private beach, a pencil, a chair.

C) a watermelon, a chair, a pencil.

D) online video games, a watermelon, a private beach, a pencil, a chair.

+4
Answers (1)
  1. 29 November, 23:29
    0
    C) a watermelon, a chair, and a pencil is a list of private goods only.

    Explanation:

    In Economics, private goods are goods that need to be purchased for consumption, and if an individual is consuming it, then the other individuals cannot consume it. These goods are also considered as excludable which means that if a user has bought it, he/she can prohibit its use from the public through ownership rights. The owner could be an individual or a group of individuals.

    By applying the above definition, it is clear that C is the only alternative that consists of private goods only, that is, A watermelon, a chair, and a pencil.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following is a list of private goods only? A) a watermelon, toll highways, a private beach, a chair. B) a watermelon, cable ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers