Which goods are sold in markets?

Question

Quizplus · Accepted Answer

Markets can distribute all types of goods, but the most common types of goods sold in markets are private goods, club goods, and common-resource goods. Private goods are those that are excludable and rival, meaning that they can be segregated to those who pay for them and consumed in a way that reduces their availability to others. Club goods are those that are excludable but non-rival, meaning that they can be segregated to those who pay for them but consumed in a way that does not reduce their availability to others. Common-resource goods are those that are non-excludable and rival, meaning that they are available to everyone but can be consumed in a way that reduces their availability to others. Public goods are also sold in some markets, but they are mostly associated with the government sector because they are non-excludable and non-rival, meaning that they are available to everyone and can be consumed in a way that does not reduce their availability to others.

Which Goods Are Sold in Markets