3. A piece of gum is a _______ good.

A. private
B. public
C. common
D. club

Question

23-07-2024
Social Studies

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3. A piece of gum is a _______ good.

A. private
B. public
C. common
D. club

Sagot :

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-07-23T12:02:09-04:00

Final answer:

Gum is a private good as it is excludable and rivalrous, fitting the classification of tangible items restricted to one individual at a time.

Explanation:

A piece of gum is classified as a private good. Private goods are excludable and rivalrous, meaning access to them can be restricted, and consumption by one individual reduces availability for others. Bubble gum, being a tangible item that can only be enjoyed by one person at a time, fits this classification.

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