Asked by Matthew Bahramian on May 04, 2024
Verified
Is a tornado siren excludable? Is it rival in consumption? How do we classify a tornado siren in terms of the four types of goods?
Tornado Siren
A warning system used in many communities to alert citizens about the imminent danger of a tornado.
Excludable
A characteristic of a good or service that allows the owner to prevent others from using it without permission.
Rival In Consumption
A characteristic of a good whereby its consumption by one person diminishes its availability for another person.
- Utilize the principle of goods categorization to analyze distinctive cases in national defense, traffic congestion, and novel inventions.
Verified Answer
LG
lauren golderMay 09, 2024
Final Answer :
A tornado siren is neither excludable nor rival in consumption, so it is a public good.
Learning Objectives
- Utilize the principle of goods categorization to analyze distinctive cases in national defense, traffic congestion, and novel inventions.