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What single feature separates free goods from economic goods?
A
Ownership - whether the good belongs to a private individual.
B
Scarcity - whether the good is limited relative to wants.
C
Utility - whether the good provides satisfaction to consumers.
D
Price - whether the good is sold in a market.
Card 1 of 20
1.6.1 nature and definition of free goods and private goods (economic goods) Flashcards
20 flashcards on CIE Intl A Level Economics 1.6.1 nature and definition of free goods and private goods (economic goods): the key terms and definitions you need to recall.