Asked by Candace Shields on May 09, 2024
Verified
Common resources and public goods have in common that they are not excludable and they are not rival in consumption.
Common Resources
Natural or man-made resources that are not owned by anyone, cannot exclude others from using, and are susceptible to overuse and depletion.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning they can be used by everyone without diminishing availability to others.
Not Excludable
A characteristic of a good or service where it is difficult or impossible to prevent individuals from enjoying its benefits, even if they do not pay for it.
- Distinguish among public goods, private goods, club goods, and common resources.
Verified Answer
MB
Mahsa BadriMay 15, 2024
Final Answer :
False
Explanation :
Common resources are not excludable but are rival in consumption, whereas public goods are not excludable and are not rival in consumption.
Learning Objectives
- Distinguish among public goods, private goods, club goods, and common resources.