Asked by beyonce logan on May 29, 2024
Verified
Is national defense excludable? Is it rival in consumption? How do we classify national defense in terms of the four types of goods?
National Defense
Represents the government's actions and policies aimed at protecting its country from external threats, typically involving military and defense strategies.
Excludable
A characteristic of a good or service that allows its owner to prevent others from using it without permission.
Rival In Consumption
A term indicating that the consumption of a good or service by one person diminishes the ability of another person to consume the same good or service.
- Apply the concept of goods classification to specific examples involving national defense, road congestion, and innovative inventions.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
National defense is neither excludable nor rival in consumption, so it is a public good.
Learning Objectives
- Apply the concept of goods classification to specific examples involving national defense, road congestion, and innovative inventions.