Asked by Vanessa Recamadas on May 12, 2024
Verified
Social goods are nonrival in consumption.
Social Goods
Goods that benefit all members of society and whose consumption does not reduce their availability to others.
Nonrival
A characteristic of a good whereby its consumption by one individual does not reduce the amount available for consumption by others.
- Comprehend the principle of nonrivalry in consumption and its relevance to societal goods and shared resources.
Verified Answer
SP
Shykecema PaigeMay 14, 2024
Final Answer :
True
Explanation :
Social goods, also known as public goods, are nonrival in consumption because one person's use of the good does not reduce its availability to others.
Learning Objectives
- Comprehend the principle of nonrivalry in consumption and its relevance to societal goods and shared resources.