Well, either they were friendly and traded items or were unfriendly and fought each other...
A private good is excludable and rival in consumption.
<u>Option: C</u>
<u>Explanation:</u>
Public products are produced for the wellbeing of the people at no expense by the government or by design. Yet private goods are the ones which private firms produce and sell to generate a profit.
If nature or government offers public goods, it is the businessmen or entrepreneurs who create private goods. A good can be excluded if the manufacturer of that good can prevent people who do not pay from buying it. If it can not acquired at the similar time by more than one individual, an item is rival in consumption.
Answer:
b) False
Explanation:
This statement is false one because while making a decision there are numerous factors involved, for example:
Initiator: The person who after processing some information about a product, watching an ad etc, initiates the task of buying it.
Influencer: Person who influence the initiator further processing.
Decider: Person who decides that the particular products should be bought.
Purchaser: Person who actually go to the market and purchase that product.
User: Person who actually use that product.
In above all of the described roles, it could be one single person who perform all the tasks, or it could be 2 to 5 different persons involved and each one performing the separate role. So, there are 5 roles involved in an actual buying process, here family role comes that it is obvious that much roles are involved, any single role can be performed by any of his or her family member, therefore, family influence is there in a purchase decision, somehow or other.