How are private goods classified
A)as both excludable and nonrival in consumption
B)as both nonexcludable and rival in consumption
C)as both excludable and rival in consumption
D)as both nonexcludable and nonrival in consumption

Question

Quizplus · Accepted Answer

Private goods are both excludable (meaning that owners have the ability to prevent others from consuming the good) and rival in consumption (meaning that the consumption of the good by one person reduces the availability of the good to others). Examples of private goods include clothing, cars, and food.

How Are Private Goods Classified