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15
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The fundamental economic problem of scarce resources in relation to unlimited wants only arises in situations where economists are dealing with...
Private goods
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boom
Lose 50 points!
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rocket
Go to first place!
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shark
Other team loses 20 points!
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banana
Go to last place!
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25
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Which of the following movements would represent economic growth?
From Z to V
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25
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When good is excludable?
When other consumers can be prevented from using or consuming it
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15
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Non-excludable and rival good is...
Quasi-public good
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monster
Reset all scores!
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gold
Win 50 points!
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fairy
Take points!
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25
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banana
Go to last place!
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25
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When good is rival?
when only one person can consume it and in doing so the good is not available for other consumers
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15
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Non-excludable and non-rival
Public good
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monster
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shark
Other team loses 20 points!
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shark
Other team loses 25 points!
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thief
Give points!
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15
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Non-rival and excludable
Quasi-public good
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20
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What are the two characteristics used by economists to determine the type of goods?
Excludability and rivalry
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15
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What good it will be if it is excludable and rival?
Private good
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25
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Calculate the opportunity cost from E to A
4 million guns
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20
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What kind of good is the thing on the man's hand?
Private good
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25
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Why free goods have zero opportunity cost
Because consumption is not limited by scarcity
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15
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What is shown in the image
Classification of goods
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