No compensation for pain and suffering, paralysis, or other noneconomic damages;Apr 14, 21A rival good is a type of product or service that can only be possessed or consumed by a single user Rival Goods vs NonRival Goods Four EconomicIf commodity 'X' is an 'economic good' and commodity 'Y' is an 'economic bad', the indifference curves are once again upward sloping An increase in amount of amount of commodity 'Y' needs to be compensated by rise in amount of commodity 'X' so as to keep total satisfaction unchanged
Economics Non Economic Goods Sterling Terrell
