Solution-Types of goods based on their rivalry and

Types of goods based on their rivalry and excludability

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Goods can be classified by their consumption rivalry and ability to exclude non-payers. If the same unit of a good cannot be consumed by more than one person at the same time, the good is rival in consumption.

Explain FOUR different types of goods based on their rivalry and excludability. Provide your explanation with examples.

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Types of goods based on their rivalry and excludability

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