The ability of an owner of a piece of property to deny its use to others is labeled ________.

Question

Quizplus · Accepted Answer

Excludability refers to the ability of an owner to exclude others from using their property, such as by putting up fences or locks. Rivalry refers to the limited nature of some goods, where one person's use of the good prevents others from using it (e.g. a slice of pizza). Non-rivalry refers to goods that can be used by multiple people without diminishing the amount available to others (e.g. a digital music file). Lugubrious means looking or sounding sad and dismal, which is not related to property rights.

The Ability of an Owner of a Piece of Property