20. Public Goods and Common Resources. Rival in consumption. Nonrival in consumption. Private goods. Artificially scarce goods. Excludable. Common resources. Public goods. Non-excludable. Nonexcludable Goods.
Public Goods and
Rival in consumption
Nonrival in consumption
Supplier cannot prevent consumption by people who don’t pay for it.
The market tends to
What a dump!
I hope someone picks up this stuff.
Nonrival in Consumption
More than one person can consume the same unit of the good at the same time.