In the context of political economy, Club goods refers to:a)products which anyone can use and their consumption doesnt reduce their availability to other.b)products which can be restricted for individual consumption but their consumption doesnt reduce their availability to others.c)products which anyone can consume but their consumption reduces the availability to other.d)products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.Correct answer is option 'B'. Can you explain this answer?

EduRev

All Courses

Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity

Open App

UPSC Exam > UPSC Questions > In the context of political economy, Club goo...

Join the Discussion on the App

In the context of political economy, Club goods refers to:

a)
products which anyone can use and their consumption doesn't reduce their availability to other.
b)
products which can be restricted for individual consumption but their consumption doesn't reduce their availability to others.
c)
products which anyone can consume but their consumption reduces the availability to other.
d)
products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.

Correct answer is option 'B'. Can you explain this answer?

FREE This question is part of

UPSC CSE Prelims Paper 1 (GS) Mock Test - 19

Attempt Test

Attempt this Test

Verified Answer

In the context of political economy, Club goods refers to:a)products w...

In economics, goods can be categorized in many different ways. One of the most common distinctions is based on two characteristics: excludability and rivalrousness. That means we categorize goods depending on whether people can be prevented from consuming them (excludability) and whether individuals can consume them without affecting their availability to other individuals (rivalrousness).
Based on those two criteria, we can classify all physical products into four different types of goods: private goods, public goods, common resources, and club goods.
Private Goods are products that are excludable and rival. They have to be purchased before they can be consumed. Thus, anyone who cannot afford private goods is excluded from their consumption. Likewise, the consumption of private goods by an individual prevents other individuals from consuming the same goods. Therefore, private goods are also considered rival goods. Examples of private goods include chocolate, ice cream, cheese, houses, cars, etc.
Public goods describe products that are non-excludable and non-rival. That means, no one can be prevented from consuming them, and they can be used by individuals without reducing their availability to other individuals. Examples of public goods include fresh air, knowledge, national defense, street lighting, etc.
Common resources are defined as products or resources that are non-excludable but rival. That means they can be used by virtually anyone. However, if one individual consumes common resources, their availability to other individuals is reduced. Examples of common resources include freshwater, timber, pasture, etc.
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). Club goods are sometimes also referred to as artificially scarce resources. Examples of club goods include cable television, private parks, wireless internet, roads, etc. Hence, option (b) is correct.

View all questions of this test

View all answers Start learning for free

< Previous Question Next Question >

Explore Courses for UPSC exam

Similar UPSC Doubts

Direction: Read the following passage and answer the item that follows. Your answer to the item should be based on the passage only.Politics for Gandhiji, was but a part of man’s life, one that encircles men like the coil of a snake from which one cannot get out, no matter how much one tries. Though he thought that an increase in the power of the state can inflict the greatest harm to mankind by destroying individuality which lays at the root of the progress, yet he viewed political power as a means that enabled people to make their conditions better in every department of life. He wrote, “my work of social reform was no way less or subordinate to political work. The fact is, that whenI saw that to a certain extent my social work would be impossible without the help of political work, I took to the latter and only to the extent it served the former”. Political life is not stranger to other aspects of life. He used to say, “My life is one indivisible whole, and all my activities run into one another, and they all have their rise in my insatiable love of mankind”. Political activity of man is closely associated with other activities of man and all these activities, according to Gandhiji, influence each other. That is why he never separated politics from from other walks of man’s life. What he hated in politics was the concentration of power and the use of violence associated with political power. In his own words,” The state represents violence in a concentrated and organized form. The individual has a soul, but the state is soulless machine, it can never be weaned from violence to which it owes its very existence. What I would personally prefer, would be not a centralization of power in the hands of the State but an extension of the sense of trusteeship ….” Politics and for that matter the state, according to him was not an end, but a means that enabled men to make their lives better. An ideal state or political life is one in which men rule themselves. For Gandhiji there is no political power in the ideal state because in it there is no state. But as the ideal was not fully realized in life, Gandhiji contented himself with Thoureau’s classical statement- that government was best which governed the least. From the above passage the following assumptions have been made: I. More the power to the State more the progress of individuals.II. Without State individuals can live better.Which of the above assumptions are / is valid

View answer

Direction: Read the following passage and answer the item that follows. Your answer to the item should be based on the passage only.Politics for Gandhiji, was but a part of man’s life, one that encircles men like the coil of a snake from which one cannot get out, no matter how much one tries. Though he thought that an increase in the power of the state can inflict the greatest harm to mankind by destroying individuality which lays at the root of the progress, yet he viewed political power as a means that enabled people to make their conditions better in every department of life. He wrote, “my work of social reform was no way less or subordinate to political work. The fact is, that whenI saw that to a certain extent my social work would be impossible without the help of political work, I took to the latter and only to the extent it served the former”. Political life is not stranger to other aspects of life. He used to say, “My life is one indivisible whole, and all my activities run into one another, and they all have their rise in my insatiable love of mankind”. Political activity of man is closely associated with other activities of man and all these activities, according to Gandhiji, influence each other. That is why he never separated politics from from other walks of man’s life. What he hated in politics was the concentration of power and the use of violence associated with political power. In his own words,” The state represents violence in a concentrated and organized form. The individual has a soul, but the state is soulless machine, it can never be weaned from violence to which it owes its very existence. What I would personally prefer, would be not a centralization of power in the hands of the State but an extension of the sense of trusteeship ….” Politics and for that matter the state, according to him was not an end, but a means that enabled men to make their lives better. An ideal state or political life is one in which men rule themselves. For Gandhiji there is no political power in the ideal state because in it there is no state. But as the ideal was not fully realized in life, Gandhiji contented himself with Thoureau’s classical statement- that government was best which governed the least. Q. Gandhiji contented himself with Thoreau’s classical statement because

View answer

What is the primary purpose of the 'Right to Be Forgotten'?

View answer

Can I use current examples from national politics to illustrate concepts from political theory in PSIR?

View answer

How can I analyze the contributions of political thinkers to debates about state power, individual rights, and the role of government in Paper I?

View answer

Top Courses for UPSCView all

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

Top Courses for UPSC

View all

In the context of political economy, Club goods refers to:a)products which anyone can use and their consumption doesnt reduce their availability to other.b)products which can be restricted for individual consumption but their consumption doesnt reduce their availability to others.c)products which anyone can consume but their consumption reduces the availability to other.d)products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.Correct answer is option 'B'. Can you explain this answer?

Share with a Friend

Answer this doubt

Question Description
In the context of political economy, Club goods refers to:a)products which anyone can use and their consumption doesnt reduce their availability to other.b)products which can be restricted for individual consumption but their consumption doesnt reduce their availability to others.c)products which anyone can consume but their consumption reduces the availability to other.d)products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about In the context of political economy, Club goods refers to:a)products which anyone can use and their consumption doesnt reduce their availability to other.b)products which can be restricted for individual consumption but their consumption doesnt reduce their availability to others.c)products which anyone can consume but their consumption reduces the availability to other.d)products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the context of political economy, Club goods refers to:a)products which anyone can use and their consumption doesnt reduce their availability to other.b)products which can be restricted for individual consumption but their consumption doesnt reduce their availability to others.c)products which anyone can consume but their consumption reduces the availability to other.d)products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.Correct answer is option 'B'. Can you explain this answer?.

Solutions for In the context of political economy, Club goods refers to:a)products which anyone can use and their consumption doesnt reduce their availability to other.b)products which can be restricted for individual consumption but their consumption doesnt reduce their availability to others.c)products which anyone can consume but their consumption reduces the availability to other.d)products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of In the context of political economy, Club goods refers to:a)products which anyone can use and their consumption doesnt reduce their availability to other.b)products which can be restricted for individual consumption but their consumption doesnt reduce their availability to others.c)products which anyone can consume but their consumption reduces the availability to other.d)products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of In the context of political economy, Club goods refers to:a)products which anyone can use and their consumption doesnt reduce their availability to other.b)products which can be restricted for individual consumption but their consumption doesnt reduce their availability to others.c)products which anyone can consume but their consumption reduces the availability to other.d)products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for In the context of political economy, Club goods refers to:a)products which anyone can use and their consumption doesnt reduce their availability to other.b)products which can be restricted for individual consumption but their consumption doesnt reduce their availability to others.c)products which anyone can consume but their consumption reduces the availability to other.d)products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of In the context of political economy, Club goods refers to:a)products which anyone can use and their consumption doesnt reduce their availability to other.b)products which can be restricted for individual consumption but their consumption doesnt reduce their availability to others.c)products which anyone can consume but their consumption reduces the availability to other.d)products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice In the context of political economy, Club goods refers to:a)products which anyone can use and their consumption doesnt reduce their availability to other.b)products which can be restricted for individual consumption but their consumption doesnt reduce their availability to others.c)products which anyone can consume but their consumption reduces the availability to other.d)products that can be excluded from individual consumption and their consumption prevents others from consuming the same goods.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.

Explore Courses for UPSC exam