An artificially scarce good is:
A)rival in consumption and excludable.
B)excludable, but not rival in consumption.
C)rival in consumption, but not excludable.
D)neither rival in consumption nor excludable.

Question

Quizplus · Accepted Answer

Artificial scarcity refers to situations where a good is made scarce by the ability to exclude others from its use, despite not being naturally limited in availability or rival in consumption. This means that access to the good can be controlled or restricted, making it excludable, but its use by one person does not diminish the ability of another person to use it, making it not rival in consumption.

An Artificially Scarce Good Is