Use the following to answer questions: Table: Types of Goods $$\begin{array} { | l | l | l | }
\hline & \text { Excludable } & \text { Nonexcludable } \
\hline \text { Rival } & 1 & 2 \
\hline \text { Nonrival } & 3 & 4 \
\hline & & \
\hline
\end{array}$$
-(Table: Types of Goods) Refer to the table. Which of the following statements is TRUE?
I. Section 1 may contain fruit, chicken, and underwear.
II. Section 2 may contain fish in the ocean, public roads, and public hunting grounds.
III. Section 3 may contain Wi-Fi, cable TV, and digital music.
IV. Section 4 may contain asteroid deflection, national defense, and radio.
A) I, II, and IV
B) III and IV
C) II only
D) I, II, III, and IV

Question

Use the following to answer questions: Table: Types of Goods $$\begin{array} { | l | l | l | } 
\hline & \text { Excludable } & \text { Nonexcludable } \
\hline \text { Rival } & 1 & 2 \
\hline \text { Nonrival } & 3 & 4 \
\hline & & \
\hline
\end{array}$$
-(Table: Types of Goods) Refer to the table. Which of the following statements is TRUE?
I. Section 1 may contain fruit, chicken, and underwear.
II. Section 2 may contain fish in the ocean, public roads, and public hunting grounds.
III. Section 3 may contain Wi-Fi, cable TV, and digital music.
IV. Section 4 may contain asteroid deflection, national defense, and radio.
A) I, II, and IV
B) III and IV
C) II only
D) I, II, III, and IV

Quizplus · Accepted Answer

Section 1 includes private goods that are both excludable and rival. Section 2 includes common resources that are nonexcludable and rival. Section 3 includes club goods that are excludable and nonrival. Section 4 includes public goods that are nonexcludable and nonrival. All statements correctly match goods to their respective sections.

Use the Following to Answer Questions: Table: Types of Goods