Asked by
Victoria Acosta
on Oct 26, 2024
Verified
Josh has an iPhone,and he frequently downloads songs from iTunes.He pays a small price for each download,but downloading a song does not remove it from the iTunes inventory,which is available for other buyers.The iTunes service is BEST described as a(n) :
A) private good.
B) public good.
C) artificially scarce good.
D) common resource.
Artificially Scarce Good
A product or service whose availability is limited by means other than natural scarcity, often due to artificial constraints like monopolistic practices or government regulation.
iTunes
A media player, media library, Internet radio broadcaster, and mobile device management application developed by Apple Inc.
- Discern examples of artificially scarce products and realize the motives for considering them as such.
Verified Answer
NT
Learning Objectives
- Discern examples of artificially scarce products and realize the motives for considering them as such.