1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lina20 [59]
3 years ago
12

What kind of good is It? Determine whether each of the following goods is a private good, a public good, a common resource, or a

club good.
Private Good Public Good Common Resource Club Good
A cabana along beach that is open to the public
A new sUV that you use to drive your friends around town
A large, beautiful fountain in a town square
Business
1 answer:
blsea [12.9K]3 years ago
4 0

Answer: Please refer to Explanation

Explanation:

Private Goods are those goods that exclusive and excludable. This means that people can be prevented from using it by the owners if the people who want to use it don't pay for it or reach an agreement with the owner.

A Public Good on the other hand is provided to every member of the public for use. They are non-excludable meaning that people can use them without having to pay a fee.

Common Resources are a mixture of both man-made and natural resources. As such, even though it is open to the public, it's use can be restricted by certain requirements such as payment.

Classifying the above,

A. Common Resource.

The Cabana is a common Resource because it is open to all members of the public and is a man-made resource on the beach which is a public good. However, one must pay to use it as well.

B. Private Good.

The SUV is your own personal property and as such is a private good whose use you can restrict from people making it exclusive and excludable.

C. Public Good.

The fountain is for everyone and no one has more right to it than others. Neither do they have to pay to view it. This makes it a Public good.

You might be interested in
In using the high-low method, the fixed cost is determined by subtracting the total cost at the high level of activity from the
Ludmilka [50]

Answer: may be determined by subtracting the total variable cost from either the total cost at the low or high activity level

Explanation: In using the high-low method, the fixed cost may be determined by subtracting the total variable cost from either the total cost at the low or high activity level.

7 0
3 years ago
Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during
poizon [28]

Answer:

Overhead= $3,212

Explanation:

Giving the following information:

Sigma Corporation applies overhead costs to jobs based on direct labor cost.

Job W, which is still in process at year-end, shows charges of $2,700 for direct materials and $4,400 for direct labor.

Job V:

$6,300 for direct materials.

$8,500 for direct labor.

$6,205 for overhead on its job cost sheet.

First, we need to calculate the overhead rate.

Overhead rate= 6205/8500= $0.73 per direct labor dollar

Job W:

Direct labor= 4,400

Overhead= 4,400*0.73= $3,212

3 0
3 years ago
A ___________ is established when an individual confers legal title to property to another person or institution to manage the p
swat32

Answer:

personal trust

Explanation:

3 0
3 years ago
how can electricity, communication, and transportation facilities indicate the potential for industrial growth?​
Dima020 [189]

Answer:

The more electricity, communications, and transportation used in a nation's economy, it will give them a more developed country and a greater potential for increased industrialization.

Explanation:

7 0
3 years ago
Aiello, Inc. had the following inventory in fiscal 2016. The company uses the LIFO method of accounting for inventory. Beginning
quester [9]

Answer:

The correct answer is B. $1,800.00

Explanation:

LIFO Perpetual table is attached.

The table shows purchases, sales and balance of each period.

As the final inventory is 120 units, we suppose the sales of the year.  Applying LIFO,  our ending inventory cost is 120 units, each one at $15

So,  total cost is $1800 (120* 15)

Download xlsx
8 0
3 years ago
Other questions:
  • Under the FINRA Conduct Rules, a broker-dealer may charge a customer all of the following services except:_______.a. collection
    12·1 answer
  • Nessca corp. manufactures electronic gadgets. it instructs its marketing team to competitively advertise and promote its gadgets
    9·2 answers
  • On January 1, 2017, the ledger of Accardo Company contains the following liability accounts.
    5·1 answer
  • KeyLine, Inc., engages primarily in the manufacture of touch-sensitive LCD monitors. The company prices its products so that it
    8·1 answer
  • Zurasky Corporation is considering two alternatives: A and B. Costs associated with the alternatives are listed below: Alternati
    10·1 answer
  • How is a job different from a career?
    14·1 answer
  • Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the f
    10·1 answer
  • Given the accelerated pace of technological change, in combination with deregulation, globalization, and demographic shifts, a f
    13·1 answer
  • A printer used 1890 digits to number all the page. How many pages in the book
    13·1 answer
  • irs guidelines require specific information to substantiate deductible automobile expenses. which 3 items are included in the su
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!