Question

For each of the goods, classify them according to whether they are rivalrous, nonrivalrous, excludable, or nonexcludable. Rivalrous is also referred to as rival in consumption.A sports team t-shirtrivalrous and excludablenonrivalrous and nonexcludablenonrivalrous and excludablerivalrous and nonexcludableThe air we breathenonrivalrous and nonexcludablenonrivalrous and excludablerivalrous and excludablerivalrous and nonexcludableAtlantic bluefin tuna in the Mediterranean Searivalrous and nonexcludablerivalrous and excludablenonrivalrous and excludablenonrivalrous and nonexcludableA toll road in normal trafficnonrivalrous and excludablenonrivalrous and nonexcludablerivalrous and excludable

Answer 1

Answer:

1. Sports Team Shirt - Excludable / Rivalrous

2. Air we breathe - Non - Excludable / Non - Rivalrous

3. Atlantic Bluefin Tuna - Non -Excludable / Rivalrous

4. A Toll Road - Excludable / Non - Rivalrous

Explanation:

A rivalrous good is one in which usage, by an individual limits the ability of another to use the same good. Rival goods are tangible. This means that they can be held or touched. Examples in this category are; A sports team shirt and, the Atlantic Blue Fin Tuna. Eating a Tuna would limit access to another person, who wants to eat Tuna at that point in time. The same would apply to wearing a sports shirt.

A Non - Rivalrous good is one in which usage by an individual does not limit consumption by another. Most non - tangible goods are non -

rivalrous. Examples in this category are; the air we breathe, and the Toll Road. Almost anyone can access these.

Excludable goods are only used after payment for them has been made. Examples are the Toll Road and the Sports Team Shirt.

Non - Excludable goods can be used even when payment has not been made. Examples are Air and The Atlantic Blue Fin Tuna which anyone can access.