Multiple Choice
Which of the following goods is both rival and excludable?
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8. The Types of Goods
Four Types of Goods and Two Characteristics
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Which of the following is NOT a characteristic of a public good?
A
Available to all members of society
B
Non-excludability
C
Non-rivalry
D
Rivalry in consumption
Verified step by step guidance1
Step 1: Understand the definition of a public good. A public good is characterized by two main features: non-excludability and non-rivalry in consumption.
Step 2: Non-excludability means that it is not possible to prevent anyone from using the good once it is provided. This implies the good is available to all members of society.
Step 3: Non-rivalry means that one person's consumption of the good does not reduce the amount available for others to consume.
Step 4: Rivalry in consumption is the opposite of non-rivalry. If a good is rivalrous, one person's use diminishes the availability for others, which is not a characteristic of a public good.
Step 5: Therefore, the characteristic that is NOT associated with a public good is 'Rivalry in consumption' because public goods are defined by non-rivalry.
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