Question

Fill in the blanks to complete the passage about common-resource goods.

Common-resource goods are _______ and also non ______. Together with ________, they represent a kind of middle ground between ________ and public goods. A typical example would be any marketable ocean-dwelling fish, since _________ is not practical and fish stocks are ______

Answer 1

Common-resource goods are rival and non excludable. Together with club goods, they represent a kind of middle ground between private goods and public goods. A typical example would be any marketable ocean-dwelling fish, since exclusion is not practical and fish stocks are depletable.

Step-by-step explanation:

Common-resource goods are 'rival' in consumption and also 'non-excludable'. Ocean-dwelling fish is an example of such resource because we cannot exclude any fish from consuming the clean water.

A good is said to be rival in consumption if 'same unit' of that good cannot be used by more than 'one' person at a given time. Non-excludable means that the supplier cannot avoid or block the utilization of that good even for people who are not paying for that good.