Wednesday, October 3, 2007

whales?!

There's something about whales that nengy wrote the other day and somehow during econs it got me laughing.

What is the meaning of common resource?
It's goods which are non-excludable and have rival.

Rival = use by 1 person will decrease the quantity available for another person.
Non-exclusable = it is not possible to prevent someone from using it.

Since the whales will be use to ahem ahem... so it will not be able to be use by another person. Besides that it is open for anyone to use it. Thus, whales are common resources.

2 comments:

rumnraisin.cathz said...

OMG!!! ???????????!!!!! LIM SU YING!!!! HOW COME I CANT COMPREHEND ALL YR POSTS??????? HAVE U STARTED TO USE A DIFFERENT LANGUAGE? OR I SOMEHOW LOSE TRACK WITH THE OUTSIDE WORLD BCOZ I'M HOLIDAYING???????

*CONFUSED AND FRUSTRATED

Swing said...

It's a "Uni" thing...
hahaha...
tat's y u should b send to India soon!!
xp