Chapter_19_-_Public_Goods_and_the_Tragedy_of_the_Commons_-_Econ - 4 Types of Goods \u25cf Rival vs Non-Rival \u25cb A good is non-rival if one person\u2019s use

Chapter_19_-_Public_Goods_and_the_Tragedy_of_the_Commons_-_Econ

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4 Types of Goods Rival vs Non-Rival A good is non-rival if one person’s use of the good does not reduce the ability of someone else to use that product Tofu is rival Wifi is non rival Excludable vs Non-Excludable A good is excludable if people who don’t pay for the good can easily be prevented from obtaining it. Tofu is excludable Tuna in the ocean is non excludable Private goods are excludable and rival They can be efficently provided in competitive markets because they are excludable Tofu is a private good Club goods are non rival and excludable Cable TV and Wifi are both non rival but they can be excludable Public goods are non-excludable and non-rival The national defense is an example because they keep the country safe and they cant only protect the people who would pay Problem is “free riders”
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