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. A sports team t-shirt
b. The air we breath
c. Atlantic Bluefin Tuna in the Mediterranean Sea
d. A toll road in normal traffic

Answer 1

Answer:

A)A sports team t-shirt:(Rivalrous and Excludable)

B)The air we breath (Nonrivalrous and nonexcludable)

C)Atlantic Bluefin Tuna in the Mediterranean Sea:(Rivalrous and nonexcludable)

D)A toll road in normal traffic:(Nonrivalrous and excludable)

Explanation:

Excludable goods can be regarded as goods whereby there is possibility of preventing consumers that has not paid for that good from accessing it.

Rivalrous goods are types of goods that can only be occupied by a person

there is competition created for their consumption.

Non-excludable goods can be regarded as public goods they are one

which are commonly available within a society for all people. These goods cannot be excluded from certain person.

Non-rivalrous goods can be regarded as public goods whereby the supply of that goods is not affected by consumption of people.