Asked by
Austin Smith
on Oct 24, 2024
Verified
What type of good is clean air?
A) Rival and exclusive
B) Nonrival and exclusive
C) Rival and nonexclusive
D) Nonrival and nonexclusive
Nonrival
A characteristic of certain goods where consumption by one individual does not reduce the amount available for consumption by others.
Nonexclusive
A characteristic of a good or service that allows multiple users to use or consume it simultaneously without excluding others.
- Separate public goods from common property resources, detailing the unique elements of each and the challenges involved in their provision.
- Identify the differences between rival and nonrival goods, as well as between exclusive and nonexclusive goods, by providing examples of each.
Verified Answer
ED
Learning Objectives
- Separate public goods from common property resources, detailing the unique elements of each and the challenges involved in their provision.
- Identify the differences between rival and nonrival goods, as well as between exclusive and nonexclusive goods, by providing examples of each.