Asked by
ADITYA NARAYAN
on Oct 09, 2024Verified
If one person's consumption of a good does not preclude another's consumption,the good is said to be:
A) nonrival in consumption.
B) rival in consumption.
C) nonexcludable.
D) excludable.
Nonrival Consumption
A characteristic of certain goods where one person's use does not diminish the availability or quality of the good for others.
Rival Consumption
A situation where one person's consumption of a good reduces the ability of another person to consume the same good.
Nonexcludable
A characteristic of a good or service indicating that it is not possible to prevent non-paying customers from accessing it.
- Gain an understanding of public goods and their unique traits.
Verified Answer
ML
Learning Objectives
- Gain an understanding of public goods and their unique traits.