Which one of the following statements is false?
A)A nonrival good is a good where consumption by one person does not reduce the quantity that can be consumed by others.
B)An exclusive good is a good to which consumers may be denied access.
C)A good that, once produced is not accessible to all customers, is nonexclusive good.
D)A rival good is a good where consumption by one person reduces the quantity that can be consumed by others.

Question

Quizplus · Accepted Answer

A good that is not accessible to all customers after production is an exclusive good, not a nonexclusive good as stated in statement C. The other statements are true. A nonexclusive good is a good that is accessible to all customers once produced, whereas a nonrival good is a good where consumption by one person does not reduce the quantity that can be consumed by others. An exclusive good is a good where consumers may be denied access, and a rival good is a good where consumption by one person reduces the quantity that can be consumed by others.

Which One of the Following Statements Is False