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- A rival good is a type of product or service that can only be possessed or consumed by a single user. When a good is rival in consumption, it may be subject to strong demand and fierce competition—factors that tend to drive up prices.
www.investopedia.com/terms/r/rival_good.asp
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What is a rival good?
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What does it mean to have a rival worthy of comparison?
What does it mean if a good is rival in consumption?
What does it mean if a person is a rival?
to be as good, clever, beautiful, etc. as someone or something else: No computer can rival a human brain for/in complexity. The beauty of the country is only rivalled by (= is as great in degree as) the violence of its politics. SMART Vocabulary: related words and phrases.
- English (US)
a person, company, product, etc. competing with others for...
- Znaczenie Rival, Definicja W Cambridge English Dictionary
RIVAL definicja: 1. a person, group, etc. competing with...
- Rival in Traditional Chinese
RIVAL translate: 競爭對手;敵手, 可與…相媲美，比得上. Learn more in the...
- Rival: Catalan Translation
rival translate: rival, contrincant. Learn more in the...
- Rival: Russian Translation
RIVAL translate: соперник, конкурент , соперничать,...
- Rival: Korean Translation
RIVAL translate: 경쟁자, 경쟁상대. Learn more in the Cambridge...
- Rival: Thai Translation
RIVAL translate: คู่แข่ง, มีความสามารถทัดเทียมกัน. Learn...
- Rival Spanish Translation
RIVAL translate: rival, contrincante, rival...
- English (US)
Oct 15, 2019 · Having a rival worthy of comparison does not mean that their cause is moral, ethical or serves the greater good. It just means they excel at certain things and reveal to us where we can make improvements.
- What Is A Rival good?
- Understanding Rival Goods
- Rival Goods vs. Non-Rival Goods
- Rival Goods vs. Non-Excludable Goods
- Special Considerations
- Rival Good FAQs
A rival good is a type of product or service that can only be possessed or consumed by a single user. When a good is rival in consumption, it may be subject to strong demandand fierce competition—factors that tend to drive up prices. These items can be durable, meaning they may only be used one at a time, or nondurable, meaning they are destroyed a...
Certain goods, such as a bottle of beer or designer t-shirt, are subject to consumption rivalry. If someone drinks the bottle or buys the t-shirt, it is no longer available for anybody else to consume. Because these types of goods can only be used or occupied by one person, competition is created for their consumption. Consumers, therefore, become ...
Goods are either classified as rival or non-rival. A rival good is something that can only be possessed or consumed by a single user. A good that can be consumed or possessed by multiple users, on the other hand, is said to be a non-rival good. The internet and radio stations are examples of goods that are nonrival. Many people can access them at t...
Non-excludable goods are public goods that cannot exclude a certain individual or group of individuals from using them. For this reason, it is nearly impossible to restrict access to the consumption of non-excludable goods. A public road is an example of a non-excludable good. Almost everyone has access to a public road, even if they are just walki...
The competitive nature of rival goods can increase their value to the individuals who seek them. This is especially true for the travel, hospitality, and entertainment industries. Goods that are rival in consumption can include seats on an airplane or for a Broadway performance. Likewise, they can include a reserved seat at a restaurant. When deman...
What Are Club Goods, Public Goods, Private Goods, and Common Goods?
In the field of economics, goods are defined based on excludability and rivalrousness in their consumption. Club goods are excludable but non-rival. Cable television is an example of a club good because it can be consumed or possessed by multiple users at the same time but it is excludable—some people are restricted from watching cable television. Public goods are non-excludable and non-rival. Examples of public goods are public parks and the air we breathe. Access to parks and air is not res...
What Is the Free Rider Problem?
The free-rider problem is a phenomenon of the conventional free-market system. It occurs when some members of a community fail to contribute their fair share to the costs of a shared resource. The free-rider problem creates a burden on a shared resource as a result of its use or overuse.
Why Can Markets Only Provide Private Goods Efficiently?
Markets can only provide private goods efficiently because of the free-rider problem. All goods that are non-excludable suffer from the free-rider problem because some individuals are unwilling to pay for their own consumption. Instead, they will take a "free ride" on anyone who does pay for the goods. When some people fail to contribute to the production of goods, it makes the resource economically infeasible to produce.
- Daniel Liberto
The verb is most often used to say that someone or something possesses qualities or aptitudes that approach or equal those of another. For example, for one country musician to be rivaling another, the first country musician must be as good as or nearly as good as the other musician.
1. countable noun. Your rival is a person, business, or organization who you are competing or fighting against in the same area or for the same things. The world champion finished more than two seconds ahead of his nearest rival. He eliminated his rivals in a brutal struggle for power.
a person, company, product, etc. competing with others for the same thing or in the same area: The strong pound will leave large sections of British manufacturing uncompetitive against rivals in the rest of Europe. rival for sth They are rivals for the top job.
May 14, 2019 · Grant explains how we can perform and even feel better by taking the risk of treating our rivals more like competitive friends.
