A good that is rival and non-excludable is defined as a ________ good.

Question

Quizplus · Accepted Answer

A common-resource good refers to a resource that is rivalrous (consumption by one person reduces its availability to others) and non-excludable (it is difficult to prevent others from using it). Examples include fisheries, forests, and clean air. These types of goods often suffer from overuse and depletion, as individuals have an incentive to consume more than their fair share. To address this, governments may regulate access or implement policies such as taxes or quotas to discourage overuse.

A Good That Is Rival and Non-Excludable Is Defined as a ________