Which of the following characteristics best defines a common-resource good?

Question

Quizplus · Accepted Answer

A common-resource good is a type of good that is rival in consumption, meaning that consumption by one individual reduces the amount available for others, but it is nonexcludable, meaning that it is difficult to exclude individuals from using the good. Examples include fish in the ocean or water in a river, which can be depleted if too many people consume them, but there is no practical way to prevent people from using them. Therefore, choice B, rival and nonexcludable, best defines a common-resource good.

Which of the Following Characteristics Best Defines a Common-Resource Good