Multiple Choice
Josh has an iPhone and frequently downloads songs from the iTunes website.He pays a small fee for each download, but downloading a song does not remove it from the iTunes inventory.Other consumers can also pay the fee and download a song that Josh might have already accessed.The iTunes service is best described as:
A) a private good.
B) a public good.
C) an artificially scarce good.
D) a common resource.
Correct Answer:
Verified
Correct Answer:
Verified
Q56: A key element that a public good
Q171: For which of the following goods is
Q198: The government can intervene to achieve the
Q199: Figure: Market Failure <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1063/.jpg" alt="Figure: Market
Q201: If left to the private market, the
Q203: Figure: Demand and Marginal Revenue <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1063/.jpg"
Q204: Figure: Correcting for Market Failure <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1063/.jpg"
Q205: A private good is a good or
Q206: Public goods are not sold in efficient
Q207: A whale is a common resource because