Market Failure - What are non-rival goods?

Non-rival goods are a type of economic good that can be consumed by multiple people simultaneously without reducing the availability of the good for others. This means that the consumption of the good by one person does not prevent others from also consuming the good

Examples of non-rival goods include:

• Public goods: Public goods are non-rival goods that are provided by the government, such as national defense, street lighting, and parks. Because these goods can be consumed by multiple people at the same time without reducing their availability, they are considered non-rival.
• Digital goods: Digital goods, such as music, movies, and software, are non-rival because they can be consumed by multiple people simultaneously without reducing their availability.
• Ideas and knowledge: Ideas and knowledge are also non-rival goods because they can be shared and consumed by multiple people simultaneously without reducing their availability.
• Natural resources: Natural resources, such as clean air and water, are non-rival goods because they can be consumed by multiple people at the same time without reducing their availability.