00:01
So here we've got a question about characteristics of goods, excludable versus rival.
00:06
And i'm just going to classify all four of them, right? and remember, just to define these things, excludable means can you control access? can you exclude someone from using it, right? if you own a golf course, you can presumably block people from using the golf course.
00:25
But if, you know, you're thinking about, say, a sunset, there's no way to block people from viewing the sunset.
00:31
Um, rival is can it be consumed multiple times? that is, does my consumption of it impair your consumption of it? in the example of the sunset, we can both consume it at the same time.
00:52
But in the example of, say, a hamburger, we cannot both consume it.
00:56
Once one person eats it, it's gone, right? so let's divide these up into yes, no.
01:02
Yes, no boxes...