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ECON 102 Final Exam(Topics 7-14) Questions and Answers 100% Solved
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ECON 102 Final Exam(Topics 7-14) Questions and Answers 100% Solved What is a private good? ️️A good that is excludable and a rival What does it mean for something to be excludable? ️️It means the good must be purchased before use What does it mean for something to be a rival? ️️It means the good cannot be enjoyed by more than one person at the same time What type of good is pizza? ️️Private good What is a public good? ️️A good that is non-excludable and non-rival What does it mean for a good to be non-excludable? ️️It means the good does not need to be purchased before use (it is free)
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