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Which among the following is not well matched in defining the nature of good? a) fishing in the large lake - non-exclusive but rival a) b) air- non-exclusive an
Which among the following is not well matched in defining the nature of good? A) Fishing in the large lake - Non-exclusive but rival A) B) Air- Non-exclusive and non-rival B) C) Use of a light house - Rival D) Stock of washing machines - Exclusive
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Eduncle
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Dear Jatteppa,
Greeting from Eduncle!
Kindly find the solution below for your query
A rival good is something that can only be possessed or consumed by a single user. A good that can be consumed or possessed by multiple users
Fishes are rival in nature as when more fish are drawn from the ocean it would reduce the quantity for other fishermen. It is non-excludable in nature as no person or anything can bar from consuming fish.
Air: non-rival and non-exclusive
Use of a light house – Non-rival (The light from a lighthouse is also a nonrival public good. )
Stock of washing machines – Exclusive
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Md sarwar ahmed
A) Fishing in the large lake - Non-exclusive but rival
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Sheetal singh
c option is right