Answer to Question #317592 in Economics for hina

Question

Explain what is meant by a good being “excludable”. Explain what is meant by a

god being “rival in consumption”. Is a slice of pizza excludable? Is it rival in

consumption?

Answer 1

if a good is excludable, people can be prevented from using the good. if a good is rival in consumption, one persons use of the god reduces another persons ability to use it. a public good is a good that is neither excludable nor rival in consumption.