Most goods in the economy are

Question

Quizplus · Accepted Answer

Private goods are goods that are excludable and rivalrous in consumption, which means that individuals can be excluded from consuming them and the consumption by one person diminishes the amount available to others. Most goods in the economy, such as food, clothing, electronics, and cars, are private goods. Natural monopolies are a rare type of market structure, common resources are non-excludable but rivalrous, and public goods are non-excludable and non-rivalrous.

Most Goods in the Economy Are