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



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.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.