Multiple Choice
Which of the following goods is nonrival?
40
views
8. The Types of Goods
Four Types of Goods and Two Characteristics
Struggling with Microeconomics?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which of the following types of goods is rivalrous?
A
Club goods
B
Public goods
C
Common resources
D
Private goods
Verified step by step guidance1
Understand the concept of rivalry in goods: A good is rivalrous if one person's consumption of the good reduces the amount available for others to consume.
Recall the characteristics of each type of good: Public goods are non-rivalrous and non-excludable; club goods are non-rivalrous but excludable; common resources are rivalrous but non-excludable; private goods are both rivalrous and excludable.
Identify which goods are rivalrous by checking if consumption by one individual limits availability to others. Both common resources and private goods fit this criterion.
Recognize that club goods and public goods are not rivalrous because one person's use does not diminish availability for others.
Conclude that the types of goods that are rivalrous are common resources and private goods.
5:02mWatch next
Master Two Characteristics:Rivalry in Consumption and Excludability with a bite sized video explanation from Brian
Start learningRelated Videos
Related Practice
Four Types of Goods and Two Characteristics practice set
Problem sets built by lead tutorsExpert video explanations