Goods that are rival in consumption include both:

Question

Quizplus · Accepted Answer

Goods that are rival in consumption are those that cannot be consumed by more than one person at the same time. Both common resources and private goods fall under this category as they have limited availability and can be used up by one consumer, making them rivals to other consumers. Public goods, on the other hand, are non-rival in consumption, as their consumption by one person does not reduce their availability to others. Natural monopolies have no relation to rivalry in consumption. Hence, option C is the correct answer.

Goods That Are Rival in Consumption Include Both