Give an example of a good that is nonrival in consumption and nonexcludable. What do economists call goods that share these characteristics?

ENGR.ECONOMIC ANALYSIS
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7. Give an example of a good that is nonrival in
consumption and nonexcludable. What do
economists call goods that share these
characteristics?
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8
Transcribed Image Text:ot, name siTU 7. Give an example of a good that is nonrival in consumption and nonexcludable. What do economists call goods that share these characteristics? ← + 8
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Introduction

Non-rival refers to those goods which the consumers do not have to compete for. The use of these goods by one individual does not reduce their availability for other people. 

Non-excludable goods are those from the use of which no one can be exempted. Even if people fail to pay for these goods then also they cannot be exempted from their use.

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