Common resources differ from public goods in that

a) common resources are non-excludable while public goods are excludable to those who do not pay for the good.

b) unlike public goods, common resources are rivalrous in consumption.

c) common resources are collectively owned by a group of people while public goods are government owned.

d) common resources are resources that cannot be renewed but the production of public goods can be increased any time.

Question

Kaitlyn Walker

Business

9 October, 02:21

Common resources differ from public goods in that

a) common resources are non-excludable while public goods are excludable to those who do not pay for the good.

b) unlike public goods, common resources are rivalrous in consumption.

c) common resources are collectively owned by a group of people while public goods are government owned.

d) common resources are resources that cannot be renewed but the production of public goods can be increased any time.

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Farrell · Answer 1

Common resources differ from public goods in that b) unlike public goods, common resources are rivalrous in consumption. A common resource is a resource that provides tangible benefits for the consumer. A common resource can be overused and consumed. Water is an example of a common resource, because although it's available to any and everyone, it has to be paid for, for use.