Which of the following types of goods are rival in consumption?
A)private goods and club goods
B)private goods and common resources
C)public goods and club goods
D)public goods and common resources

Question

Quizplus · Accepted Answer

Private goods and common resources are rival in consumption. Private goods are goods that are both excludable and rival in consumption, meaning that only those who pay for the good can consume it, and when one person consumes the good, it is no longer available for others to consume. Common resources are goods that are rival in consumption but not excludable, meaning that anyone can consume them regardless of whether they pay for them or not, leading to overuse and depletion.

Which of the Following Types of Goods Are Rival in Consumption