Private goods are
A) rival in consumption, and their benefits are excludable.
B) nonrival in consumption, and their benefits are excludable.
C) nonrival in consumption, and their benefits are nonexcludable.
D) rival in consumption, and their benefits are nonexcludable.

Question

Quizplus · Accepted Answer

Private goods are characterized by being rival in consumption, meaning that one person's consumption of the good reduces the amount available for others, and their benefits are excludable, meaning that it is possible to prevent people who have not paid for the good from consuming it.

Private Goods Are