An economic good is described as being transferable - Leaving Cert Economics - Question 3 - 2007
Question 3
An economic good is described as being transferable.
Tick (✓) the statement, below, which explains the underlined term correctly:
(a) It must be possible to transpor... show full transcript
Worked Solution & Example Answer:An economic good is described as being transferable - Leaving Cert Economics - Question 3 - 2007
Step 1
Tick (✓) the correct statement:
96%
114 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
The correct statement to tick is (b) It must be possible to pass the good from one person to another. This statement highlights the essence of transferability in economic terms, emphasizing the ability to transfer ownership or rights of the good.
Step 2
State ONE example of a good that is NOT transferable:
99%
104 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
One example of a good that is NOT transferable is 'Beauty'. Beauty cannot be passed from one person to another, as it is an inherent quality and not a tangible good that can be owned or transferred.
Join the Leaving Cert students using SimpleStudy...
