Figure 11-1
-Refer to Figure 11-1. The box labeled B represents
A)private goods.
B)club goods.
C)common resources.
D)public goods.

Question

Figure 11-1 
-Refer to Figure 11-1. The box labeled B represents
A)private goods. 
B)club goods. 
C)common resources. 
D)public goods.

Quizplus · Accepted Answer

The characteristics of the box labeled B (excludability and non-rivalry) match the characteristics of club goods, which are goods that are excludable but non-rivalrous. Private goods are also excludable and rivalrous, common resources are non-excludable and rivalrous, and public goods are non-excludable and non-rivalrous. Therefore, B represents club goods.

Figure 11-1 -Refer to Figure 11-1. the Box Labeled B Represents