ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Club goods are non-rivalrous, so they’re not in danger of being used up or defiled by one or more person’s use, up until the point where continued use causes the use of the goods to become congested. However, they are excludable, which means that people can be denied access to them or use of them.

Detailed explanation-2: -Club goods are products that are excludable but non-rival. Thus, individuals can be prevented from consuming them, but their consumption does not reduce their availability to other individuals (at least until a point of overuse or congestion is reached).

Detailed explanation-3: -Club Goods: Goods that are excludable but non-rival, or non-subtractable. This means that while certain people can be excluded from the consumption of a good, one person’s consumption of it does not diminish another person’s.

Detailed explanation-4: -In the field of economics, goods are defined based on excludability and rivalrousness in their consumption. Club goods are excludable but non-rival.

Detailed explanation-5: -When a good is both excludable and rival in consumption, it is called a private good. Wheat is an example of a private good.