Asked by
Rahul Khaitan
on Nov 17, 2024
Verified
Which of the following goods is rival and excludable?
A) An uncongested toll road
B) An uncongested nontoll road
C) A congested nontoll road
D) A congested toll road
Rival
In economics, a good or service that cannot be enjoyed by more than one person or group at the same time without diminishing its availability to others.
Excludable
Describes goods from which individuals can be easily excluded for non-payment, emphasizing property rights.
- Identify and differentiate among the four types of goods: private goods, public goods, common resources, and club goods.
- Explain the criteria for goods being rivalrous and excludable, and how these properties influence their classification.
Verified Answer
BF
Learning Objectives
- Identify and differentiate among the four types of goods: private goods, public goods, common resources, and club goods.
- Explain the criteria for goods being rivalrous and excludable, and how these properties influence their classification.