Which of the following describes a good that is artificially scarce?

Prepare for the Rutgers Introduction to Microeconomics Test. Study with comprehensive multiple-choice questions and detailed explanations. Master key economic concepts and excel in your exam!

A good that is artificially scarce is characterized as excludable but nonrival. This means that while access to the good can be restricted (excludable), one person's consumption does not diminish the ability of others to consume it (nonrival).

For example, consider a digital product such as a streaming service. The service provider can limit access to the service through subscriptions or account logins, making it excludable. However, multiple users can consume the same content simultaneously, meaning one user enjoying the show does not prevent others from doing the same. Thus, it illustrates the nature of being nonrival in consumption.

Other classifications of goods typically found in economic discussions include public goods, common resources, and private goods. These have different characteristics in terms of rivalry and excludability, but they don't capture the concept of artificially scarce goods as effectively as the chosen description does.

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