A cell phone is a ______ because it is ______.
A) private good; nonrival and excludable
B) private good; rival and excludable
C) common good; rival and nonrival
D) public good; rival and nonexcludable

Question

Quizplus · Accepted Answer

A cell phone is a private good because it is owned by an individual or group and can be used exclusively by them. It is rival, meaning that one person's use of the phone reduces the availability for others to use it. It is also excludable, as the owner can prevent others from using it through either physical or digital means, such as a password. Therefore, the best choice is B, which describes a private good that is rival and excludable.

A Cell Phone Is a ______ Because It Is ______

A Cell Phone Is a Because It Is