Suppose you have an endowment of rice which you do not wish to consume today entirely. You may regard this stock of surplus rice as an asset which you may wish to consume, or even sell off, for acquiring other commodities at some future date. Is this possible? Give reason.

Both 2 and 3

The correct answer is Option 4: Both 2 and 3

The reasoning is that rice, while having a relatively long shelf life compared to many other food items, cannot be stored beyond a certain period due to its perishable nature. Over time, rice can degrade, especially if not stored under proper conditions. Hence, it is considered perishable, and storage limitations exist.