Classify Each of the Following Goods on the Basis of the Characteristics

question 20

Essay

Classify each of the following goods on the basis of the characteristics of excludability and rivalry in consumption,giving appropriate reasons.
a)A lighthouse
b)A pair of shoes
c)A paid Web site
d)A congested non-toll road

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Definitions:

Confront

To face or deal with a challenge or obstacle directly, often in a way that involves addressing conflicts or difficult issues.

Forming Stage

The initial phase in group development characterized by members' orientation, getting acquainted, and exploring boundaries.

First Step

The initial action or decision undertaken to start a process or achieve an objective.

Group Development

The process by which a group forms, progresses, and changes over time, typically moving through stages such as forming, storming, norming, performing, and adjourning.