Which of the following best describes a Club Good?

Study for the Economics for Hawaii Teachers Test. Enhance your understanding with detailed questions and explanations. Prepare effectively and succeed in your exam!

A Club Good is characterized by two key features: it is excludable and non-rivalrous. Being excludable means that access is restricted to those who have paid for it or are members of a specific group, while being non-rivalrous indicates that one person's use of the good does not diminish the ability of another person to use it.

In the context of option B, the idea of accessibility through subscription or membership aligns perfectly with these characteristics. A typical example of a Club Good would be a subscription service like a streaming platform or a country club, where only those who have paid for a subscription or membership can access the service, but one member's usage does not preclude another member from consuming the same service simultaneously.

The other options reflect different types of goods. For instance, goods available to all without restriction fit into the category of public goods, which are non-excludable and non-rivalrous. Rivalrous and non-excludable goods are more akin to common resources, where one individual’s consumption can limit availability for others. Lastly, the concept of public use regardless of ownership suggests a public good as well, where benefits are accessible to everyone without direct payment. Therefore, the description of access through subscription or membership distinctly aligns

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