In: Economics
1. Indicate whether or not the following goods are nonrival and nonexcludable, explaining if necessary:
PSAA 621: Economic Analysis
Good |
Nonrival |
Nonexcludable |
Post office |
||
National Defense |
||
Flood control |
||
Social Security |
||
Books in public libraries |
||
TV programs |
||
A beautiful Sunset |
Post office : Nonrival & excludable
Non rival: A good is non rival if its usage by one person does not reduce the amount available for others consumption, hence, post office is non rival.
Excludable: It is excludable as there are some cost involved in using the services offered by post office like stamps,etc. (though very small), if an individual is unable to pay these costs, he/she will be excluded from its usage.
National Defence: Non rival and non excludable
Non rival: As it can be provided to many people at the same time without any additional cost.
Non excludable: One cannot be excluded from its provision if an area/nation is being defended.
Flood control: Non rival & Non excludable
Social security : Non rival & excludable
Books in public library: Rival & Non excludable
TV programs: Non rival & excludable
A beautiful sunset: Non rival & non excludable
For more refer : https://www.reviewecon.com/rival--excludable.html