Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 11 - Part IV - Public Goods and Common Resources - Quick Check Multiple Choice - Page 229: 2

Answer

B) Private good and common resources

Work Step by Step

By definition, a private good is one which is excludable and rivalrous. A common resource is one which is non-excludable but rivalrous.
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.