Asked by Abdullah Ghzzai Ghazi Albeladi on Jul 19, 2024
Verified
Whether or not they pay for them,people cannot be excluded from receiving the benefits of _____,but they can be excluded from the benefits of _____.
A) private goods;public goods and common resources
B) public goods;private goods and common resources
C) common resources;public goods and private goods
D) either public goods or common resources;private goods
Common Resources
Natural or man-made resources that are not owned by anyone, tend to be overused or depleted, and are difficult to exclude people from using.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning they can be used simultaneously by more than one person without diminishing availability to others.
Private Goods
Goods that are excludable and rival in consumption, meaning their use by one person prevents use by another.
- Differentiate between excludable and nonexcludable goods.
Verified Answer
SE
Sarper Ek?io?luJul 24, 2024
Final Answer :
D
Explanation :
Public goods and common resources are both non-excludable, meaning it's difficult to prevent anyone from using them regardless of whether they've paid. Private goods, however, are excludable because individuals can be prevented from using them if they do not pay.
Learning Objectives
- Differentiate between excludable and nonexcludable goods.