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3 years ago

Use the following classification to determine which category each of the following goods falls into.

Business

1 answer:

valkas [14]3 years ago

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Answer:

When a good is said to be Excludable, it means that it's access can be restricted to being used by only a certain number of people.

Similarly Non-Excludable is the opposite.

And when a good is said to be Rival in Consumption, it means that when it is used, it reduces the chances of other being able to use the good because it is being depleted.

Non - Rival means the opposite.

Public Goods

These goods are said to be Non-Rival and Non - Excludable. Their use by one person does not deplete it for another and it's access cannot be restricted to certain people.

Private Goods

These Goods are both Rival and Excludable.

Club Goods

These goods are Non-Rival in nature, but they are Excludable.

Common Resource

These are Rival goods but they are Not - Excludable.

Public swimming pools with free admission during summer. - Common Resource

Public Pools are rival goods because when they are used by people, the quality reduces and more treatment or water will have to be added to maintain it. It is Non-Excludable however because it is open to all with free entrance.

Flood control - Public Good

Flood control is a state sponsored program aimed at helping everyone in the country or rather the affected area. It is non-excludable and non-rival in nature.

Private security patrol with idle officers - Club Resource

This is a club resource because the security provided is non - rival in that it does not get depleted. However because they are private, they only protect certain people which makes it Excludable in nature.

Public basketball courts - Common Resource

Anyone can use Public Courts thereby making them Non-Excludable. However, the more people that use the courts, the more damaged it gets making it Rival in nature.

Flu vaccine - Private Good

Flu vaccines are Rival in Consumption in that every flu vaccine given to one person reduces the amount of flu vaccine available for others. It is also Excludable because not all people get it as it is free up to a certain age and then has to be paid for.

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Rent control policies tend to cause

Savatey [412]

Answer:

The correct answer is d. relatively smaller shortages in the short run than in the long run because supply and demand tend to be more inelastic in the short run than in the long run.

Explanation:

Rent control laws set limits on how much landlords can charge rent. The rent control laws specify:

What types of properties qualify for rent control.
How often rent limits can be adjusted.
How rent limits can be adjusted. Most rent control laws link increases in rental limits to an annual percentage of inflation in a local consumer price index.
The conditions when a property is "out of control."
Restrictions on the eviction of the tenant with rent control.

There are no federal rent control laws since the US Supreme Court. UU. He ruled that rent regulation is a state issue. Most states do not have rent control laws regulated. Only some cities and communities in some states continue to apply them.

In the United States, rent control laws were adopted during World War II when the country was experiencing a housing shortage. President Richard Nixon then passed the wage and price laws that influenced the modern rent control laws that are still being applied today. This is why most rent control laws usually apply to older properties built before 1980.

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2 years ago

What is gross profit? (Select the best answer.)

BlackZzzverrR [31]

The money left over the cost of making a product or providing a service

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3 years ago

On Sept 9, Daniels Corporation earns $2,000 by performing consulting services. Their customer said that she would pay next month

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Answer:

The answers are:

A) Consulting revenue should be listed below the debited account as it is credited.

C) Accounts payable is not involved in this transaction.

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Explanation:

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2 years ago

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. Distinguish between the short run and the long run as they relate to macroeconomics. Why is the distinction important

STALIN [3.7K]

Answer:

1. In the short run, wages and other prices are stagnant making the economy to run below or above the normal level. In the long run, wages and prices are fully flexible, and this allows the economy to run at its natural level.

2. This distinction is important because it helps us to see how difficult it could be to sustain the real gross domestic product and employment rates thus making the economy to run at a normal level or achieve its full potentials.

Explanation:

Stickiness or stagnancy of wages can be seen in the fact that it is most time difficult to fluctuate or change the wages of workers overtime. The prices of most goods are also sticky when they remain unchanged over a given period of time. These conditions exist in the short run, and make the economy to run above or below its full potentials. The real GDP and unemployment levels are negatively affected.

In the long run, flexibility of wages and prices are achieved and this makes the economy to run at its full potentials. The real GDP as well as the employment rate are at their optimum level then.

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3 years ago