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Is cell phone service a rival good?

Yes, cell phone service is considered a rival good. Rival goods are those that are consumed when one person uses them, and cannot be used by someone else at the same time. Cell phone service works in this way, as when one person is using it, no one else can use the same service.

Examples of other rival goods are tickets to an event, cars, and airline seats. Consumers generally have to purchase a separate good in order to consume a rival good, such as purchasing a ticket to a concert.

Ultimately, when one person purchases and consumes a rival good, no one else can use it, making it a rival good.

Which of the following goods is rival and excludable?

Rival and excludable goods are goods which, when consumed by one individual, cannot be consumed by another individual, and also include some form of exclusionary mechanism to ensure that access to the good is restricted.

Examples of rival and excludable goods include physical items such as cars, bikes, toys, shoes, and food; digital items such as music and movies; and services such as health care or cable television.

All of these goods can only be consumed by one individual at a time, and the supplier of the good will often use mechanisms such as gates or turnstiles to exclude those who do not have the necessary payment or access to the item.

Which categories of goods are rival in consumption?

Rival in consumption goods are any goods that can be consumed by multiple people at the same time. Examples of these types of goods include public goods such as national parks, roadways, public television and radio broadcasts, military protection, and law enforcement.

These types of public goods cannot be consumed by one person without reducing the available quantity for others. Other examples of rival in consumption goods are private goods such as food and beverages, clothing, luxury items, entertainment, and many other household items.

These types of private goods can be consumed by one person at a time and will not be consumed by another persons until it has been purchased.

Why is toilet paper a rival good?

Toilet paper is a rival good because it is used up quickly and the demand for it increases with each additional person who needs to use it. Toilet paper is a non-durable good, meaning that it needs to be replaced when it is used up.

This creates a sense of rivalry because it is a finite resource that all individuals are competing for. Additionally, as the population increases and households become more populous, the demand for toilet paper increases as well.

This creates a need for more rapid production and consumption of the good, creating an ongoing cycle of demand and supply. Furthermore, the price of toilet paper is highly correlated to its availability, meaning that if demand is high, the price will increase.

As toilet paper is a necessary good and its price is sensitive to supply, it creates rivalry amongst households who will all be competing for the same resource.

Which good is excludable quizlet?

Excludable goods are goods that can be withheld from certain individuals based on their ability to pay. Common examples of excludable goods include movie tickets, concert tickets, and private club memberships.

Excludable goods can also be tolls, such as highway tolls, where drivers must pay in order to pass through the toll. Excludable goods are typically provided by monopolies, and people can be refused access based on their ability to pay.

This is a contrast to non-excludable goods, where everyone can access the good regardless of their ability to pay.

What is an example of an excludable good?

An excludable good is a type of good where people are able to be excluded from the use of it by a producer. Examples of excludable goods include gym memberships, movie tickets, concert tickets, and subscription services.

For instance, when purchasing a movie ticket, a producer is able to exclude the public from attending by either not selling the tickets or by selling tickets that are more expensive than the average person is willing to spend.

Similarly, subscription services are able to exclude people from using their services by requiring a membership fee before access is granted.

Theoretically, an excludable good also includes works of art, such as books, music, or art, where a producer can charge a fee and limit access. Copyright laws are in place to prevent unauthorized access to certain works of art, and without such protection, a producer would be unable to exclude people from using the product.

In conclusion, an excludable good is a type of good where people are able to be excluded from using it, either through a fee or through the implementation of copyright laws. Examples of excludable goods include gym memberships, movie tickets, concert tickets, subscription services, and various works of art.

Which of the following is an example of public good?

An example of a public good is a national park. National parks provide a space where people can commune with nature and engage in recreational activities. They are typically open and freely accessible to everyone and are maintained and preserved by government or nonprofit entities.

Aside from providing a place of respite, national parks offer long-term environmental benefits for humans and animals. They provide a haven for native species, helping to sustain natural biodiversity and ecosystems, and help buffer us from the woes of climate change.

They also protect water quality and can provide people with free access to educational resources, including natural history and scientific research.

Is pizza non excludable and rival?

Yes, pizza is both non-excludable and rival. Non-excludability means that it is impossible for producers to specifically exclude certain individuals from consuming it. As an example, if someone decides to buy a pizza and leaves it unattended, it generally opens it up for everyone else to enjoy.

Rival means that the pizza can only satisfy the needs of one person at a time. If one person eats a slice then another person must wait until a new one is purchased before they can consume it.

Is ice cream excludable?

No, ice cream is not excludable. Excludability is the economic term for goods that can be prevented from being consumed by a certain group or individual. Examples of goods that are excludable are cable television and pay-per-view movies; with cable television, the provider can simply cut off service to those who don’t pay the bill, effectively excluding them from consuming the good or service.

With ice cream, however, it is impossible to prevent someone from consuming it, particularly if it’s homemade or purchased in a store. Because it cannot be effectively excluded, ice cream is not considered excludable.

Is Netflix rival and excludable?

Netflix is a streaming service that competes against other services such as Hulu and Amazon Prime for subscribers, so it can be considered a rival. Excludability refers to the ability of a company such as Netflix to maintain exclusive access over its products or services, and this is something that Netflix can do with its subscribers.

Netflix has exclusive rights to some content, and generally restricts access to its library of movies and TV shows based on the subscription that a user has. For example, Hulu subscribers won’t be able to access Netflix content, and vice versa.

So in conclusion, Netflix is both a rival and excludable.

What is rival products?

Rival products are items that offer the same or very similar solutions to the same problem. They often compete in the same market and have similar features, benefits, and prices. Generally, the success of one product will directly impact the sales and market share of the other.

For example, Apple and Samsung are direct rivals in the smartphone market, competing for the same customers. Products from both companies have similar features, differentiating styles and values, and often quite similar prices.

Whichever one does better will impact the sales of the other in the same market.

Is Healthcare a non excludable good?

Healthcare is a non-excludable good, meaning that it cannot be withheld from specific individuals or groups of people or denied to them on the basis of their ability to pay or other criteria. Health care is essential to human life and is considered a basic human right.

All people should receive equal access to quality, affordable health care regardless of their economic status. Non-excludable goods are typically provided publicly, and are subsidized by the government or other public entities.

In many countries, the provision of healthcare is a priority and governments commit significant resources to ensure that citizens have access to the best possible care regardless of their ability to pay.

Non-excludable goods are the opposite of excludable goods, which are typically provided privately and are subject to restrictions based on income or other criteria.

Why do people have little incentive to produce a public good?

People have little incentive to produce public goods because when a public good is produced, it cannot be withheld from anyone. This means that anyone who benefits from the good does not have to pay for it, and so producers of the good cannot profit from it.

Additionally, the public good is often owned by no one and so there is no owner incentivized to protect it. As a result, public goods are often underfunded, especially on a local level, due to the fact that there is no financial return on investment.

Since individuals and companies are generally driven by profit motives, they are not motivated to invest in public goods even if they understand their social value. Furthermore, related goods that do provide a financial return, like private goods, may compete with public goods for limited resources, making it difficult for public goods to remain funded and operational.

Which is a problem for the production of public goods?

One of the main problems with the production of public goods is the free-rider problem. This occurs when people take advantage of the fact that the goods are provided freely and don’t pay for them. As a result, it becomes more difficult for the producers of these goods to pay for the costs associated with their production, such as labor, materials, and overhead.

This can create a barrier to the production of public goods, as the cost of production can often be too high for any one individual or organization to cover alone. Additionally, it can lead to underinvestment in such goods, as there is often no one willing to pay for them.

This can reduce the overall availability of public goods, as well as the quality of those goods, leading to even greater negative impacts in the long run.

What is the biggest problem with allocating public goods?

The biggest problem with allocating public goods is that there is rarely enough resources to satisfy everyone equally. The demand for public goods often far exceeds the supply, resulting in the necessity of allocating limited resources among a large population.

This can be extremely difficult since individual wants and needs vary greatly between individuals; in order to create a fair and equitable allocation, it can be difficult to strike a balance between the demands of multiple stakeholders.

In addition, it is difficult to determine a fair price for public goods since different people value different things and may be willing to pay different prices for the same good. It can be hard to determine the optimal price point that best benefits the collective while still ensuring access to the public good.

Further complicating matters are the external costs often associated with public goods, such as taxes that residents must pay to fund certain services. All of these factors make allocating public goods a complex and challenging process.