Whether a good is a luxury or necessity depends on the
A: price of the good.
B: preferences of the buyer.
C: intrinsic properties of the good.
D: scarcity of the good.
A: price of the good.
B: preferences of the buyer.
C: intrinsic properties of the good.
D: scarcity of the good.
举一反三
- Whether a good is a luxury or necessity depends on the
- People cannot be prevented from using a good if the good is a A: private good or a public good. B: private good or a common resource. C: public good or a common resource. D: public good or a club good.
- The relative price of a good is A: an opportunity cost. B: equal to the money price of a good. C: equal to the price of that good divided by the quantity demanded of the good. D: what you get paid for babysitting your cousin.
- Knowledge that is patented is a A: public good, whereas knowledge that is not patented is a common resource. B: private good, whereas knowledge that is not patented is a club good. C: common resource, whereas knowledge that is not patented is a private good. D: club good, whereas knowledge that is not patented is a public good.
- A Giffen good must be an inferior good. A: 对 B: 错