{"id":41769,"date":"2025-06-28T10:53:55","date_gmt":"2025-06-28T10:53:55","guid":{"rendered":"https:\/\/gaviki.com\/blog\/?p=41769"},"modified":"2025-06-28T10:53:56","modified_gmt":"2025-06-28T10:53:56","slug":"macmillan-learning-nonrival-in-consumption-nonexcludable-nonrival-in-consumption-excludable-excludable-nonrival-in-consumption-nonexcludable-rival-in-consumption","status":"publish","type":"post","link":"https:\/\/gaviki.com\/blog\/macmillan-learning-nonrival-in-consumption-nonexcludable-nonrival-in-consumption-excludable-excludable-nonrival-in-consumption-nonexcludable-rival-in-consumption\/","title":{"rendered":"Macmillan Learning nonrival in consumption; nonexcludable nonrival in consumption; excludable excludable; nonrival in consumption nonexcludable; rival in consumption"},"content":{"rendered":"\n<p><br>Macmillan Learning nonrival in consumption; nonexcludable nonrival in consumption; excludable excludable; nonrival in consumption nonexcludable; rival in consumption An artificially scarce good is similar to a public good in that it is but it is also similar to a private good in that it is<\/p>\n\n\n\n<p><strong>The Correct Answer and Explanation is:<\/strong><\/p>\n\n\n\n<p>An artificially scarce good is similar to a public good in that it is nonrival in consumption, but it is also similar to a private good in that it is excludable.<\/p>\n\n\n\n<p>Let\u2019s break down this concept:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Public Goods<\/strong>: These are goods that are both <strong>nonrival<\/strong> (one person&#8217;s consumption does not reduce the availability of the good for others) and <strong>nonexcludable<\/strong> (it is difficult or impossible to exclude people from using the good). Examples include clean air or national defense. No matter how many people benefit from these goods, each individual&#8217;s use doesn\u2019t reduce the amount available for others.<\/li>\n\n\n\n<li><strong>Private Goods<\/strong>: These are goods that are <strong>rival<\/strong> (one person&#8217;s consumption reduces the availability for others) and <strong>excludable<\/strong> (people can be excluded from using the good). For instance, a sandwich is a private good. If you eat it, no one else can, and the seller can prevent others from getting one.<\/li>\n\n\n\n<li><strong>Artificially Scarce Goods<\/strong>: These are a bit of a hybrid between private and public goods. They are <strong>nonrival<\/strong> in consumption because one person&#8217;s use does not diminish the ability of others to use it. However, they are <strong>excludable<\/strong> because access to these goods can be restricted, often through pricing. A classic example of an artificially scarce good is digital media or online streaming services (like Netflix). Multiple users can stream a movie at the same time without affecting each other\u2019s experience, but the service can restrict access by charging for a subscription or limiting the number of users per account.<\/li>\n<\/ol>\n\n\n\n<p>Thus, an artificially scarce good is similar to a public good in that it is nonrival, but like a private good, it can be excludable, which allows the provider to control access or charge for its use.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/gaviki.com\/blog\/wp-content\/uploads\/2025\/06\/learnexams-banner5-268.jpeg\" alt=\"\" class=\"wp-image-41773\" srcset=\"https:\/\/gaviki.com\/blog\/wp-content\/uploads\/2025\/06\/learnexams-banner5-268.jpeg 1024w, https:\/\/gaviki.com\/blog\/wp-content\/uploads\/2025\/06\/learnexams-banner5-268-300x300.jpeg 300w, https:\/\/gaviki.com\/blog\/wp-content\/uploads\/2025\/06\/learnexams-banner5-268-150x150.jpeg 150w, https:\/\/gaviki.com\/blog\/wp-content\/uploads\/2025\/06\/learnexams-banner5-268-768x768.jpeg 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Macmillan Learning nonrival in consumption; nonexcludable nonrival in consumption; excludable excludable; nonrival in consumption nonexcludable; rival in consumption An artificially scarce good is similar to a public good in that it is but it is also similar to a private good in that it is The Correct Answer and Explanation is: An artificially scarce good [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-41769","post","type-post","status-publish","format-standard","hentry","category-quiz-questions"],"_links":{"self":[{"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/posts\/41769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/comments?post=41769"}],"version-history":[{"count":1,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/posts\/41769\/revisions"}],"predecessor-version":[{"id":41778,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/posts\/41769\/revisions\/41778"}],"wp:attachment":[{"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/media?parent=41769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/categories?post=41769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/tags?post=41769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}