Question

Which good, once consumed by an individual doesn’t, reduce the ability of another individual to consume it? A(n) good is a product that, once consumed by an individual, doesn’t reduce the ability of another individual to consume

Answer 1

Public good

Step-by-step explanation:

Public good is a property belonging to some Estat, financed by public money. The main characteristic of public goods is that they do not establish rivalry and exclude no one. This means that it is impossible for a public good user to exclude other users from benefiting from the good. It also means that when a person uses the good, he does not prevent others from using it as well.

Answer 2

The best answer would be:

1. Private goods

2. Public goods

Private goods are scarce, or in other words very limited. These are goods that are owned by an individual that is obtained in exchange of money. Now this limits the ability of another to consume it. Private goods are categorized as excludable and rivalrous.

Because it is limited, not anyone can get it, thus creating competition.

Public goods are the opposite. Anyone can use it and anyone can obtain it. For example, air, public defense, streetlights. All these things are obtainable and even when one will consume, there is more for others to make use of.

I hope this did not confuse you more. Good luck!