11.1 Classifying Goods and Resources

MyEconLab Concept Video

Why do governments use tax dollars to build highways, bridges, and tunnels? Why don’t profit-seeking private firms build and sell the services of the transportation infrastructure? What’s the difference between fish in the Pacific Ocean and fish on East Point Seafood Company’s Seattle fish farm? What’s the difference be­tween a live Taylor Swift concert and a concert on network television? What’s the difference between education and fast food? Each pair differs in many ways, but key is the extent to which people can be excluded from enjoying the benefits from them and the extent to which their use by one person rivals their use by others.

Excludable

A good, service, or resource is ...

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