Jatteppa posted an Question
March 06, 2022 • 14:51 pm 1 points
  • UGC NET
  • Economics

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 best-answer

    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

  • Md sarwar ahmed

    A) Fishing in the large lake - Non-exclusive but rival

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