Question

Goods that are rival in consumption but not excludable would be considered? a. private goods. b. common resources. c. club goods. d. public goods.

Answer 1

Common resources are rival and non-excludable. Examples of common goods are coal and timber because they can only be possessed or consumed by a single user at one time but access is not restricted.

Common resources are described as non-excludable but competitive goods or resources. As a result, practically anyone can utilize them. However, if one person uses up a shared resource, it becomes less available to other people. When those two traits combine, shared resources are frequently used excessively (see also the tragedy of the commons). Freshwater, fish, timber, grassland, and other resources are a few examples of common resources.

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