Question

Name one environmental or natural resource that has the following characteristics: (1) it is non-rival in...

  1. Name one environmental or natural resource that has the following characteristics: (1) it is non-rival in consumption, and (2) exclusive. What is the market failure associated with this resource? How would you correct the market failure?
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Answer #1

An example of excludable but non rival good is cable TV where one person watching that will not reduce the quantity for other and that is why it is non Rival in nature but it is excludable for those who don't pay for it. market failure caused by it is important information where the buyer would not be aware of the actual price to buy because he would not be understood about the importance the cost of production of that particular service on the whole and imperfect information can be corrected by the government intervention where it should mind it all the details about the usage of the cable TV so that even the buyer will have ample knowledge about it so that imperfect information will vanish and efficiency can be restored

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