A private good is ________ and ________.
A) rival; excludable
B) rival; nonexcludable
C) nonrival; excludable
D) nonrival; nonexcludable
E) scarce; expensive

Question

Quizplus · Accepted Answer

A private good is both rival and excludable. Rivalry means that the consumption of the good by one person reduces the availability of the good for others. Excludability refers to the ability to selectively allow or deny access to the good by different individuals or groups. Examples of private goods include food, clothing, and housing.

A Private Good Is ________ and ________

A Private Good Is and