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19 January, 02:38

For each of the goods below, identify the characteristics that describe each good. Note that each good will be characterized with two characteristics. Rivalrous is also referred to as rival in consumption. Consider only the immediate benefits and costs, not any externalities.

National Defense Excludable

Pay per view cable TV Nonexcludable

A Hot Pocket sandwich Rivalrous

Private classroom education Npnrivalrous

Pajamas

A unicycle

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  1. 19 January, 02:54
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    National Defense - Non excludable - National Defense is a public good, and all citizens in a country are entitled to enjoy that good, whether they pay for it or not. Pay per view - Excludable - This is a private service. Only people who pay for it are allow to enjoy this good. A Hot Pocket sandwich - Rivalrous - This is a good that is used up by the consumption of one person. One it is consumed, it cannot be enjoyed by anyone else. Private classroom - Excludable - This is also a private service. Only alumni who pay can enter this classroom. Pajamas - Rivalrous good - A pajamas cannot be used by more than one person at the same time. A Unicycle - Rivalrous good - Same logic as above. A unicycle can only be used by one person at a time.
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