The correct option is a. private goods.
Goods that are rival in consumption but not excludable would be considered as "private goods."
What are private goods?
A private good is an item that has to be purchased in order to be consumed, as well as consumption by one person prevents another from consuming it.
Some key features regarding the private goods are-
- In other phrases, a good is regarded as a private good if individuals compete to obtain it and consuming this same good prevents another person from consuming it.
- A private good is diametrically opposed to a public good.
- Public goods seem to be generally available to all, and ingestion by one party does not preclude another party from using them.
- It is also excludable; it is not possible to prevent another from using the good.
- Many public goods are available for free.
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