Discussion
A good which is characterized by both rivalry and excludability is called as:
Answer: B
A good is rival when one person's use of it reduces what is available to others, and excludable when others can be kept from using it unless they pay. A private good, such as bread or a shirt, has both properties. A public good is non rival and non excludable, a merit good is one that the government considers worthy of encouraging whether or not it is rival, and a normal good is simply one whose demand rises with income. The answer is a private good, option B.
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