Which of the following categories of goods is nonrival in consumption and satisfies the nonexclusion condition?
A)Inferior goods
B)Private goods
C)Common resources
D)Public goods

Question

Quizplus · Accepted Answer

Public goods are nonrival in consumption, which means that one person's consumption of the good does not diminish its availability or quality for others, and they satisfy the nonexclusion condition, which means that it is not possible to exclude individuals from using the good once it is provided. Inferior goods are goods with negative income elasticity, meaning demand for them decreases as income increases; private goods are rival in consumption and can be excluded from use; common resources are rival in consumption but are difficult to exclude others from using.

Which of the Following Categories of Goods Is Nonrival in Consumption