Principles of Microeconomics, 7th Edition

Published by South-Western College
ISBN 10: 128516590X
ISBN 13: 978-1-28516-590-5

Chapter 11 - Part IV - Public Goods and Common Resources - Quick Check Multiple Choice: 2

Answer

b

Work Step by Step

*Private goods are rival in consumption because the use of the good by one individual decreases the chances for other individual to use it. Say pizza sales, if a person buys all pizzas available, next client in line won't be able to purchase pizza. *Common resources are also rival because resources are scarce and finite, if one fisherman fishes all the fish in a lake the next fisherman won't be able to fish at all.
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