A rival good is a good where consumption by one person reduces the quantity that can be consumed by others.

Question

Quizplus · Accepted Answer

Rival goods are goods that have limited availability and consumption by one person reduces the availability for others. Common examples of rival goods include food and clothing, which can only be used by one person at a time. When one person consumes a rival good, there is less of the good available for others to consume. Examples of rival goods include food, clothing, and cars.

A Rival Good Is a Good Where Consumption by One