Asked by
Tyler Barbre
on Oct 26, 2024
Verified
Which example is considered an artificially scarce good?
A) a candy bar
B) a free art exhibit in a city park
C) a pay-per-view boxing match on cable television
D) an interstate highway without tolls
Artificially Scarce Good
A product or service whose supply is intentionally restricted to increase its price or value, often contrary to its natural abundance.
Pay-Per-View
A service by which viewers can purchase events to be viewed on television and pay for the private telecast of that event to their homes.
- Identify the distinctions between several sorts of goods including public goods, artificially scarce goods, and common resources, alongside recognizing the root causes of market failures relevant to each.
Verified Answer
NP
Learning Objectives
- Identify the distinctions between several sorts of goods including public goods, artificially scarce goods, and common resources, alongside recognizing the root causes of market failures relevant to each.
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