Economists refer to private goods as
...Economists refer to private goods as
Rivalrous and non-excludable
Rivalrous and excludable
non-rival and non- excludable
non-rival and excludable
Correct answer is B
They are goods that are divisible and to which principle of exclusion is fully applied. It is based on the following assumptions: Ability to pay, Rivalry in consumption, price is its basis, willingness to pay etc.
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