Question

A product is considered to be rivalrous if your consumption of the product reduces the quantity available for others to consume. you cannot keep those who did not pay for the item from enjoying its benefits. you can keep those who did not pay for the item from enjoying its benefits. it is jointly owned by all members of a community.

Answer 1

Answer:

if your consumption of the product reduces the quantity available for others to consume

Explanation:

Any product that ones consumption of it reduces the quantity available for others to consume is said to be a rivalrous product.

This is a type of good that may only be possessed or consumed by a single user.

Rival goods can be durable, this just means that they may only be used one at a time, or nondurable, simply meaning they perish after consumption.

When a good is rival in consumption, the resulting competition can increase its value to the individuals who seek them.

Rival goods are mostly limited.

Answer 2

Answer:

A product is considered to be rivalrous if your consumption of the product reduces the quantity available for others to consume.

Explanation:

Private goods are rivalrous in consumption because:

• if one person consumes it, then another person cannot consume it
• if one person consumes it, the ability of another party to consume it is reduced

Private goods are both rivalrous in consumption and excludable (consumers who do not pay for the products can be prevented form consuming it).

On the other hand, public goods are both non-rivalrous and non-excludable in consumption.