Reference no: EM134040036

Question

Determine which category each of the following goods falls into. The image shows a two-by-two matrix with or without rivalry in consumption on the one hand and excludability on the other. The rows are labeled Excludable? Yes or No and columns are labeled Rival in Consumption? Yes or No. The upper left cell, which is Rival in Consumption and Excludable, lists the following Private Goods: Ice-cream, Clothing, Congested toll roads. The upper right cell, which is Non-Rival in Consumption and Excludable, lists the following Club Goods: Fire protection, Cable TV, Uncongested toll roads. The lower left cell, which is Rival in Consumption and Non-Excludable, list the following Common Resources: Fish in the ocean, The environment, Congested nontoll roads. The lower right cell, which is Non-Rival in Consumption and Not-Excludable lists the following Public Goods: Tornado siren, National defence, Uncongested nontoll roads. Goods Private Good Club Good Common Resource Public Good Rural roads Flu vaccine Congested city streets City parks during the winter Private security patrol with idle officers.