Question

Spring is here, and Becky and her dad would like to go fishing for the weekend in Washington. Becky could either go to the river in town where anyone can fish without a permit, or she could drive up to a stream located on her family's property in the countryside to fish. Assume that, no matter where people fish, all of the fish that are caught would be kept (that is, there is no "catch and release" policy).4. Common resources versus private goods Spring is_____________

Answer 1

Answer:

In this case, the fish are considered rival goods, because if Becky, her dad, or any other person catches one fish, this person keeps it, preventing other people from catching and consuming it.

In this case, the river in town is non-excludable, while the stream at Becky's property is excludable. The river in town does not exclude anyone from fishing, while Becky's family probably does not allow anyone other than family to fish in the stream located at their property.