Let's break up goods and services into different categories.

Concept #1: Two Characteristics: Rivalry in Consumption and Excludability

Concept #2: The Four Types of Goods: Private Goods, Club Goods, Common Resources, and Public Goods

Practice: Label the goods as Private Goods (PRI), Common Resources (CR), Club Goods (CG), or Public Goods (PUB).

Practice: A slice of pizza is:

Practice: An example of an excludable good is: