Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / Categories of goods Complete the following table by selecting the appropriate definition for each of the given terms
Categories of goods
Complete the following table by selecting the appropriate definition for each of the given terms.
| Term | Definition |
|---|---|
| Nonexcludable | |
| rival |
If a good is both nonexcludable and rival in consumption, then it is ?
| Term | Definition |
|---|---|
| NonExcludable | A nonexcludable good is a good where non paying consumers cannot be prevented from accessing it. |
| Rival | a good is rival if it can only be consumed or used by a single consumer |
If a good is both nonexcludable and rival in consumption, then it is a common good
