> Knowing whether a good is rival or not tells you whether you want to use the market (if I were a good economist that would possibly be capital-M Market ;-) to allocate access to that good. If it's rival, then the market is an efficient way of allocating the good;
But something like medicine is clearly a rival good, and yet some people have greater need than others.
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andrewducker) wrote2010-04-16 12:00 pm
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But something like medicine is clearly a rival good, and yet some people have greater need than others.
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