study guides for every class

that actually explain what's on your next test

Common resource

from class:

AP Microeconomics

Definition

A common resource refers to a type of resource that is non-excludable but rivalrous. This means that while anyone can access and use the resource, one person's use or consumption reduces the availability of it for others.

© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.