When a good is "rival" in consumption, it means that no more than one person can use the good at the same time. This concept is based on the idea that the consumption of the good by one individual diminishes the availability of that good for others. This characteristic is often associated with tangible goods that have physical limitations, such as a piece of cake, a chair, or a book.
To further clarify:
1. One person's use of the good diminishes another person's ability to use it: This is a key feature of rival goods. For example, if one person eats a slice of cake, that particular slice is no longer available for others to consume. The cake is finite, and consumption by one person reduces the amount available for others.
2. No more than one person can use the good at the same time: This statement directly reflects the nature of rival goods. Since the consumption of the good by one person affects its availability for others, only one person can utilize the good at any given moment. For instance, a single-seat on a bus or a concert ticket are examples where only one individual can occupy or use the good at a time.
Understanding the rivalry in consumption of goods helps in distinguishing between goods that can be shared simultaneously and those that cannot due to their limited availability.
