Place Each of the Following in the Correct Location in the Table

question 41

Essay

Place each of the following in the correct location in the table.
$\begin{array}{c}\text { Rival? }\\\text { Excludable? }\begin{array}{|l|l|l|}\hline&\text { Yes }&\text { No }\\\hline \text { Yes }& \text { Private Goods } & \text { Club Goods } \\\hline \text { No }&\text { Common Resources } & \text { Public Goods }\\\hline\end{array}\end{array}$
a. Congested toll roads
b. Knowledge
c. Fish in the ocean
d. National defence
e. Congested non-toll roads
f. DSTV
g. The environment
h. Fire protection
i. Chocolate
j. Uncongested toll roads
k. Clothing
l. Uncongested non-toll roads

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Definitions:

Subsidy

A financial contribution granted by the government or a public body to help an industry or business keep the price of a commodity or service low.

Marginal Costs

The increase in cost resulting from the manufacture of one additional unit of a good or service.

Decreasing Costs

Situations in which costs diminish as the level of production or scale of operations increases.

Efficiency

The extent to which time, effort, or cost is well-used for the intended task or purpose.