Asked by Sharee Posey on May 01, 2024
Verified
A good that is rival in consumption is one that someone can be prevented from using if she did not pay for it.
Rival in Consumption
A good is termed a rival in consumption if its use or consumption by one individual prevents its use or consumption by another individual.
Excludable
A characteristic of a good or service that allows owners to prevent its use by people who have not paid for it.
- Comprehend the principle of excludability and competition among goods.
Verified Answer
JL
Jasmine LeighMay 07, 2024
Final Answer :
False
Explanation :
A good that is rival in consumption means that one person's use of the good diminishes another person's ability to use it, not necessarily that someone can be prevented from using it if they didn't pay.
Learning Objectives
- Comprehend the principle of excludability and competition among goods.